HIPs will be hindered by the failure to reform the local authority search market, says Mark Riddick
Local government holds the information required by conveyancers to undertake their due diligence requirements on the purchase of a property by their clients. It competes with private companies in the compilation of searches for conveyancers from that information. It is claimed that certain local authorities compete unfairly by restricting the private search companies’ access to the information.
LOCAL AUTHORITY SEARCH FEES
Local authorities can justifiably claim that they do not have the resources (funding or personnel) to cope with providing the necessary facilities to private search companies. This is because central government has set a fee for access to this information at a level that is not currently calculated to recover all of the cost of maintaining and providing the information.
The fact that the fee charged to private search companies for access is £11, and the cost of a search compiled by a local authority (the so-called “official search”) can be as much as £300, suggests that either the
.tmb-mov69x69.jpg?sfvrsn=e3c4b2f1_1)
