In the wild-west that is the HIP industry, we’re seeing tumbleweeds where before there were companies in their hundreds. We were always intrigued by cowboy organisations charging low prices, especially those that didn’t increase them to take into account the increase in search costs in April. Several medium-sized providers have closed their operations in the past few weeks. A large provider has drastically increased the price it charges for refreshing searches in a HIP, quoting £250 initially, increasing to £350 in a subsequent call. Another provider that cut its back-office staff, has been asking DEAs to collect payments for them at the property. It is clear that even those companies that are managing to survive are having to resort to increasingly desperate measures with the corresponding impact on service levels.
Energy Savings Trust
Since the introduction of Energy Performance Certificates, it has frequently been suggested that there was an ulterior motive for the use of the data that was being collected. However, until recently there was no evidence that anyone was allowed to access this data containing details of insulation, estimated fuel costs, property sizes and types of heating systems. However, over the summer, a regulation was passed that enabled the Energy Savings Trust to access this data, which was followed by a recommendation by the same organisation that houses with a low rating should not be able to be marketed until they were made more energy efficient. We await further details from this organisation about how this data will be used.
Kickbacks – the issue widens
We were pleased to see that Which? Magazine had picked up on the concerns about consumers being overcharged for HIP services. Ironically, the cheapest supplier on the market was later found to be withholding providing a HIP to a client because they refused to take up their conveyancing services. However, although Which? suggested that some agents are marking up HIP prices, it also mentioned our concerns about agents taking kickbacks from providers, and not disclosing them.
The Partnership expands its legal expertise
We are delighted to announce that two practising solicitors have joined The Partnership, further strengthening our legal capabilities and expertise. Guy Crowther has a background in probate and Claire Speller has worked for several major firms specialising in residential conveyancing, in particular leasehold transactions. These two important additions gives the company increased depth in legal matters for the future.
