 The long controversial Home Information Packs scheme, introduced by the Government last year continue to receive mixed reviews from conveyancing solicitors and other housing market professionals.
Some accused the packs of slowing down the buying process at a time when every sale is of vital importance.
In years gone by, the number of buyers and sellers were at extremely high levels and so calls for a loosening of regulation were muted.
But with the drastic downturn that began late last year, a number of bodies including the Council of Mortgage Lenders and the National Association of Estate Agents went on record voicing their displeasure with the process.
Good information
Defenders of the scheme have long argued that the packs not only don’t hinder the sales process but that they actually provide vital information to the buyer so they can make an informed decision about their new property.
Information about potential flooding and parking are of great importance when determining a purchase so one collated document pack, which gives all of these statistics can only improve the process.
A recent addition to the packs is the Property Information Questionnaire (PIQ), which give a basic summary of Council Tax and utilities costs.
The PIQ was introduced in order to make the process of applying simpler for sellers and has recently been welcomed by one firm of property lawyers.
Amy Norman, a selling house solicitor: "We see transactions being delayed or even falling through as a result of information contained in these property information forms. By including this information in the HIP, issues or problem areas are highlighted early on in the process."
"This extra information will help the prospective buyer make an informed decision and reduce the number of transactions that fall through after contracts have been issued."
Online conveyancing
One major problem still facing online conveyancers and other housing specialists is the slowdown in bank lending.
After being hurt by so-called "toxic assets" during the credit crunch, many banks are still wary about giving out new home loans, especially to young people looking for their first property.
According to the NAEA the lack of new mortgages for young buyers is one of the major sticking points preventing a greater recovery in the market. A spokesman for the organisation sounded a note of cautious optimism recently after noting that the number of sales has continued to rise.
"It is in the interests of the UK as a whole that the upturn in the housing market that has been noted in the first half of 2009 is sustained and nurtured into a full recovery.
The Government must do more to ensure that money that has been given to banks finds its way through the system and into the housing market" said Gary Smith from the NAEA.
The licensed conveyancing sector is dependent on the recovery noted by Smith continuing for the foreseeable future and this is an ideal time for customers to take advantage of a streamlined online conveyancing service.
Getting a conveyancing quote is now a simple process compared to years gone by.
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