UK Money News
16th June 2008
Estate agents accused of taking risks with Hips
Some estate agents are cutting costs by enlisting the services of a non-accredited provider of Home Information Packs (Hips), it has been claimed.
According to the Association of Home Information Pack Providers (AHIPP), a number of agents are using companies which do not comply with the Hip code.
In so doing, they are taking risks, not least because they are deemed responsible by law, said Mike Ockenden, AHIPP director general.
He added: "While I understand many estate agents do not like Hips, they are here to stay and it is important that agents understand their legal responsibilities in respect of packs."
"To protect themselves and of course the customers that they are serving they should only use packs that carry the Hip code logo."
Among the conditions of the Hip code are that providers have Professional Indemnity (PI) insurance of a minimum of £2 million per pack.
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