New provisions added to Home Information Packs (HIPs) may be too little too late.
Home Information Packs (HIPs for short) have been part of the residential conveyancing market for just over two years, but some industry experts have already written them off as an expensive failure. The introduction of HIPs was widely considered to have been badly managed from the start. One of the most high-profile examples of mismanagement was the last-minute removal of the compulsory requirement for a home condition report. Many experts at the time complained that the report was the one document that could have made a real difference to the value of a HIP. To decide if the critics are right, it is worthwhile revisiting what the government’s main objectives were for the packs.