Britons looking to avoid upfront Hips payment

More than three quarters of sellers are looking to avoid paying for Home information packs (Hips) before the sale of their property has gone through, a new study shows.

Research from Hip Payment Services has shown that 76 per cent are in favour of deferring payment, with the average price of a pack currently thought to average around £350.

Reacting to such desires, the firm has said that it has now launched a deferred payment scheme which can be offered by all pack providers, though the initiative does include an additional processing charge.

"Traditionally, the majority of costs incurred with selling a home, such as estate agent and solicitors fees are charged at the end of the process, typically when the vendor’s sale has gone through," outlined Hip Payment Services chief executive Jeff Smith.

"While all of the costs incurred in a Hip, aside from the new Energy Performance Certificate (EPC), are not new, the majority of these have previously been met by the buyer and consumers have not been asked to pay for this upfront," Mr Smith added.

Hips were introduced for properties with four or more bedrooms on August 1st before being rolled out for three-bed homes on September 10th.


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