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News Story

Cost of some HIPs 'set to rise from April 6' warning

Wednesday 4th February 2009

The cost of HIPs where personal searches are included is likely to rise from April 6, says HIP provider Peter Ambrose.

He said that from this date, HIP companies will no longer be able to use insurance to protect themselves from actions arising where the information contained in a personal search is incomplete.

Search companies must obtain all the information that is required in a search from the local authority, which will charge for providing this data.

Ambrose said: “The price of this improved accuracy will be an inevitable increase in pricing, making personal searches far less cost-effective. This, in combination with the news that many local authorities are significantly reducing the prices of their official searches, could spell the end of personal searches in many areas.

“As we warned several years ago, the practice of consumers paying for searches that cannot be used by buyers is unacceptable. As predicted, we now have sellers being charged by their buyers for carrying out official searches where the personal search is not acceptable.”

Ambrose, who runs niche HIP company The Partnership, which deals in up-market properties, predicted that the April 6 changes will mean that some HIP providers will “struggle to survive as they attempt to keep their prices low, but with significantly increased costs”.

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Posted By wooden top on Wednesday 4th February 2009 15:11:41

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The bit in italics is the direct quote form Peter Ambrose. It's a HIP supplier that said they aren't acceptable. Do you reed your searches as accurately?

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Posted By Downtrodden on Wednesday 4th February 2009 13:43:59

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Well said Richard. Poor old search companies have been fighting with councils for years to gain access to information they hold on behalf of the public. Local Authority Searches have long been an essential part of the conveyancing process regardless of Hips. The only reason Personal Search Companies exist at all is because the service councils provided in supplying searches was so poor and expensive, solicitors were willing to purchase the information from private companies who gave a much better service at a more reasonable price. The government then launch their Hips and in doing so come April, could potentially wipe out this whole industry in once fell swoop by giving Councils the right to abuse their monopoly position and charge outrageous prices for supplying information (still not giving access) to the poor old search company, which they have already been paid once by the public. Then back to the bad old days of poor service, because there is no way they will be able to cope with the new work load and high prices, because why should they keep them low as they will again be the sole supplier.

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Posted By Nick on Wednesday 4th February 2009 13:41:01

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What is Wooden Top talking about. Why cannot the searches in Hips be used by buyers solicitors? There is so much rubbish banged about poor Joe Public and some professionals don't know what to believe. For the record. I am a director of Pali Ltd a personal search and Hip company. We were pioneers of personal searches in 1999 and gave a service to buyers solicitors. When Hips came out, which we were against, we provided personal searches for our own Hips and other companies Hips. We also provide the very same searches for the buyers solicitors. The only reason a buyers solicitor would commission new searches is when the house takes a while to sell as searches, regardless of who provides them, personal search companies or local authorities, are only as good as the day they are compiled. Although it is generally accepted that upto six months is ok, some solicitors renew them after three months. That is their choice. We can provide indemnity insurance which will guarantee the searches indefinately.
Nick.

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Posted By Richard on Wednesday 4th February 2009 13:16:01

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Do I detect a certain gloating in Peter Ambroses's posting? Couple of points. The government insisted in the search indemnity insurance to protect the consumer not the search companies as the councils were not permitting access to information. Search companies have PI cover to protect themselves. Personal search companies were responsible for the price of Hips being so low, for councils dropping their prices and for the speed of delivery being so good.
Most responsible search companies have been paying for the information since 2002 when the current Con29 was introduced. The accuracey of council produced searches is poor. They use people as well and thier commitment to service is not as high as the private search companies. Does Peter feel that more expensive Hips are a good thing for the public? Love or hate Hips, pearsonal search companies were against them but I think most companies that use personal searches for Hips, some 90%, think they give a great service, far better than councils.
Richard.

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Posted By Wooden Top on Wednesday 4th February 2009 12:56:38

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"As we warned several years ago, the practice of consumers paying for searches that cannot be used by buyers is unacceptable...." Does this mean that all those done todate are useless... eh Minister of Housing, why or why have you operated a system that your co-conspirators say is unacceptable?

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Posted By Jim on Wednesday 4th February 2009 12:52:57

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A guy I met the other day is launching a new HIP providing service, completely for free. They fund it with advertising revenue. All you pay is £50 plus VAT for the EPC, the seaches etc are gratis. they are even getting a Euro grant as it's paperless. I'll post the web address when I get it.

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Posted By secret agent on Wednesday 4th February 2009 12:34:38

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Cut the Cr** . fewer listings = lower profit = higher cost (fact) don't treat us like idiots!!!

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Posted By Nick Salmon - SPLINTA on Wednesday 4th February 2009 11:51:56

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SPLINTA pledges a tenner as well. And £20 if he shaves it a little nearer the throat. No offence Mike!

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Posted By Rebel on Wednesday 4th February 2009 10:39:12

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Yes, very interesting Peter...but on a separate matter: For the last three years I have been nauseated by Mike Ockenden’s appalling porn star moustache. We have an opportunity to remove the repulsive item on Friday 13 March, which is Comic Relief Day. For charideee and aesthetic reasons should not AHIPP organise a sponsored shave as a matter of urgency? I am sure the NAEA would be able to provide a home and a saucer of milk for the follicled monstrosity, alongside their other scalps. I personally pledge a tenner.

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