With the festive season looming fast, many people who are looking to move house will be trying to complete before Santa makes an appearance. All well and good if you complete in early December, but if the completion date is too close to the actual day, apart from the risk of having to unwrap presents and eat turkey while sitting on boxes of your unpacked chattels, if it doesn’t quite go to plan it could also be an expensive move!

Many solicitors will be closed between Christmas Day and New Year, so if the purchase is not completed before the break, it may roll over until early January. If the parties are liable for interest payments under the contract, then if the purchase is not completed in time, interest may be liable during the whole period, so it’s a little risky trying to exchange too close to Christmas.

It’s important to check that your solicitor is also on the panel of your mortgage company’s solicitors. There have been cases where separate solicitors have been instructed to act for the mortgage company. As a result the client has had to pay for two solicitors, adding an additional £400 - £500 to the legal costs, so check with your broker or mortgage company at the outset.

If you are planning a move in the future, the government have confirmed that Home Information Packs (HIPs) will be introduced from July next year, but the Home Condition Report, which was the core of the HIP, will not be compulsory. The electrical report will remain part of the pack and will provide useful information for the purchaser, but as sellers are unlikely to pay several hundreds of pounds for a full Home Condition report if it is only voluntary, it does rather cast doubt on the real value that HIPs will bring to conveyancing.

HIPs are due to be tested shortly to see how they work in practice. The nearest area to Biggleswade is Cambridge, and another ‘dry run’ is planned for Northampton. Local estate agents and solicitors have been rather resistant, but like most new concepts, it is crucial to iron out any anomalies and see how HIPs work in the field before they are launched nationally and become compulsory.

The main reason that Home Condition reports were excluded as a compulsory part of the HIP was a shortage of Home Inspectors trained to carry out the job. There is still a good way to go before HIPs are due to be introduced and with different groups applying pressure to the government on this matter, things may well change again during the next few months.

So my recommendation for a relatively stress free move is simple; take the advice of your solicitor, allow extra time for the unforeseen, take a deep breath and be patient!

We will keep you updated on developments, but if you need any further advice on HIPs or conveyancing contact Stephen Frith or Debbie Matthews at Motley & Hope. Telephone Stephen or Debbie on 01767 600600 or e-mail stephenfrith@motleyandhope.co.uk or debbiematthews@motleyandhope.co.uk.