Which say Fridays are the cheapest HIP Provider

According to a recent report by Which.co.uk, estate agents are significantly marking-up the cost of Home Information Packs (HIPs) and in doing so adding hundreds of pounds to the cost of selling a property.

Some firms charge 50% more to compile a pack than others concluded Which?

Sellers could save in the region of £300 by simply shopping around.

Halifax Estate Agent were revealed as the most costly Home Information Pack for a three bed semi-detached property.

The cost of a HIP supplied by Halifax was £413, 118% more than the £189 charged by online provider 'Fridaysmove '.

Which? Money Editor, James Daley, said: 'Our research shows that the most expensive high street agents charge over twice as much as the cheapest online Hip providers.
'So you can save hundreds of pounds by shopping around for the best deal. '

There is evidence to show that some agents require sellers to use a Hip provider chosen by the agent from whom they receive a commission. This practice can add up to £150 to the cost of the Home Information Pack. While specialist pack providers may be cheaper, a significant number of small HIP Providers have failed over recent years, creating serious problems for sellers.

 

How Prices Vary

DIRECT PROVIDERS
Direct Providers Freehold house Leasehold flat
Fridaysmove Prop Lawyers £189 £229
HIP Save £190
£224
Promise Homepacks £206
£240
Anglia Home Surveys £227
£250
Economy HIP £228
£262
HIPHIPhooray.com £380
£414
ESTATE AGENTS
Estate Agents
Freehold houseLeasehold flat
Halifax £413
£458
Countrywide £401
£459
Spicerhaart £401
£516
Foxtons £344
£344
Savills* £292
£292

*Price from one of Savills' approved suppliers