Since their introduction in 2007, Home Information Packs (HIPs) have provided a constant source of controversy and debate and it was therefore perhaps not surprising when the new Coalition Government decided to suspend the requirement for HIPs.
There has been speculation as to how HIP providers may reinvent themselves in the aftermath of the suspension of HIPs. At a time when the legal profession is contemplating the role of Alternative Business Structures and the onset of e-conveyancing, there are concerns amongst established conveyancing practices that these former HIP providers may seek to exploit the ever increasing demand for cheaper conveyancing services by establishing themselves as providing a standardised 'off the shelf' conveyancing solution. Whilst most solicitors were opposed to HIPs, the notion of a ready-made, ultra low cost conveyancing solution would be of even greater concern.
For more detail on the effect of HIPs on conveyancing solicitors and the likely impact of the suspension of HIPs click here.
This article was written for Law-Now, CMS Cameron McKenna's free online information service. To register for Law-Now, please go to www.law-now.com/law-now/mondaq
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The original publication date for this article was 05/08/2010.