HIPs to cost buyers and sellers millions - Convex

The increasing time taken to sell properties, coupled with strict rules from mortgage lenders, mean homebuyers will still need to pay out to get necessary information about a property. At present, HIPs must include a local authority search, which gives information on issues such as planning and environmental concerns, at a cost of around £280. Mortgage lenders also require this information from applicants. However, most mortgage lenders need up to date search information and will not accept searches that are more than three months old, according to Convex.net. This is likely to be probl...