HIP hip hooray – solicitors have something to cheer about

27 Jul 2007

The Law Society announced on the 26th July 2007 that it “has persuaded the Solicitors Regulation Authority (SRA) that the creation of a HIP [Home Information Pack] by a solicitor does not necessarily create the retainer relationship. This is a victory for solicitors, because it puts them on a level playing field with other HIP providers. The SRA will be issuing amended guidance to the new Solicitors’ Code of Conduct in due course, to reflect this decision.”

The change in the Law Society’s position followed its consideration of an opinion provided by P.J Kirby from Hardwicke Building. PJ had advised a firm of solicitors intending to become substantial HIP providers that draft guidance that had been issued by the Law Society and which would have required the solicitor HIP provider to treat the vendor as his client, even though the HIP was being provided to the estate agent, was wrong. PJ had suggested that his opinion be sent to the Law Society – it was, with very pleasing results for many solicitors.