The HIP, without a HCR, is very rarely likely to cost as much as £650, probably more like £400 in most cases & this is all money that would need to be spent if it were the buyer getting the information together, after they had agreed to buy. And which would be wasted if they are unable to proceed for any reason (such as the chain of sales collapsing). The HIP does not have to be updated or “reassessed” every 3-6 months. The only requirement at the moment is that lenders require local searches to be no more than 3 months old, nothing else. This may remain the case but in future, updating searches if they are older will become very easy & cheap through the electronic processes which will be available.

The concept of the HIP is plain common sense - when a transaction is usually part of a chain, it makes sense to remove as many pitfalls as possible from the process, by having the information up front. Far from being a deterrent to a seller, it should be seen as a valuable marketing tool the cost of which is saved on their related purchase & which may save them a vast amount of hassle & trauma, let alone possibly saving the whole chain from collapse. In the context of the overall costs of sale & purchase, the need to commit to this relatively small cost, which you pay anyway on your purchase at present, is almost irrelevant.