By Catherine Baksi
Law firms in several parts of the country are uniting to tackle the challenges of home information packs (HIPs) and maintain their position in the conveyancing market.
The controversial packs launched on 1 August to continuing protests but have been something of a damp squib, due in part to the traditionally slow August property market, and because HIPs are currently only required for properties with four or more bedrooms.
But coupled with other potential changes in the market, they have encouraged greater collaboration between high street solicitors.
Eleven firms in Sefton in Merseyside have joined forces to form the North West Solicitors Association (NWSA) with the launch of a website to provide a single point of contact to assist home buyers and sellers, and have agreed standards and procedures. The NWSA offers a HIP, at a cost starting at £299, and aims to standardise the contract documentation used by its member firms.
It operates on a cab-rank basis, with clients directed through a call centre to the next firm on the list, unless a particular one is requested.
In Wiltshire, Withy King and Wood Awdry & Ford have collaborated with local estate agents and put together an information pack to assist clients, and have joined forces with six other local firms and surveyors to produce their own HIP.
Meanwhile, solicitors in the East Anglia and Plymouth areas have worked together to produce their own standard protocols to speed up the conveyancing process.
Law Society Vice-President Paul Marsh said there had been a very good response to the roll-out of HIPs from the profession, with firms working together and with local agents. 'It's absolutely essential for solicitors to be proactive and to co-operate - they need to hit the ground running to ensure they make their mark on the market from day one,' he said.
Tracy Thompson, of NWSA firm Morecrofts, said: 'We were concerned that the implementation of HIPs could mean a loss of potential business for local firms, and we wanted to offer a local solution to local agents. The marketplace is changing, not just because of HIPs, high interest rates and electronic conveyancing. With the opportunity for new providers to have an impact on the market, it's more important than ever for solicitors to pull together.
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