HIP Providers - what happens next?

Many of the major HIP providers are now in a serious place. The decision last week to axe HIPs has renedered their revenue stream redundant at a stroke.

So now they are moving into the conveyancing space and aiming to compete with local solicitors - an interesting development & one I shall be keeping an eye on.

So for the man on the street, what are the simple do's and don'ts when transacting a property purchase / sale. The considered wisdom would suggest

DO keep everything simple, buying a house is definitely a situation where separate specialisations are better than a remote one stop shop.

DO find a local solicitor you can work with, it may cost a little more, but will be worth it if problems arise. Just put it in the context of the value of the overall transaction.

DO find out if your estate agent is 'pushing' a particular financing or conveyancing option if they are on any form of commission. If they are probably best to walk away - remember they need your business, so you have the control.

DO find an independant energy assessor to produce your EPC - this is still needed, even though HIPs are gone. Start with the energy assessors accreditation schemes they will all probably list local practitioners in your area and most are likely to be cheaper if you deal with them direct, rather than through the many umbrella organisations and panels out there.

Of course, as a practicing Domestic and Commercial Energy assessor, I have a vested interest in this point of view. I would like to have a good working relationship with local estate agents and solicitors to provide my piece of the jigsaw (the EPC) to customers in the local community. Of course the major nationwide HIP providers are not going to go away without trying to re-invent their revenue stream, but the sea change that the removal of HIPs has caused at least levels the playing field a little.

If you are (or are about to be) in a property transaction and need an EPC, then please get in touch, at Surrey energy Consultants, we would be very happy to help.