What are the benefits of a HIP? 

HIP’s are designed to provide as much information as possible to potential purchasers at the ‘front end’ of the process. 

Detailed research over the past few years has shown that almost £1 million is wasted every day on failed transactions.

Almost 30% of transactions collapse and never reach completion.

 This is invariably due to information that comes to light later in the transaction and causes potential purchasers to change their minds or reconsider their position. 

Also the protracted length of time it takes between accepting an offer and actual completion of the sale (currently 12 – 14 weeks) under the existing buying and selling process, means either party can change their minds for a variety of  reasons. 

 Further polls of homeowners who have recently moved home indicated that some 80% were unhappy with the process and the stress involved. 

Comparisons with other European neighbours, in particular Denmark, who have a HIP system, has shown that the number of failed transactions and the timescales for selling can be dramatically reduced when sound information is provided up front. 

This means the buying and selling process is less stressful, costs are not so likely to be wasted and all parties to the transaction are happier.