Homeowners selling their homes are to benefit from a no sale, no fee deal on Home Information Packs from specialist HIP provider Spring Move.
The company, which has been appointed by estate agents to commission the reports and legal activities associated with a property transaction, is challenging the industry to match its move.
Critics have focused on the issue of homeowners having to pay twice for HIPs if their house fails to sell before the pack needs to be updated. But Spring Move will only charge for its specialist HIP if a sale is agreed.
The offer will be open to homeowners buying HIPs through estate agents and also those buying direct from Spring Move.
Stephen Foden, chief executive of Spring Move, says: HIPs will go a long way to reducing the stress and misery involved in homebuying and selling.
However, people should not be forced to pay twice for a HIP if their sale does not go through for reasons which will often be beyond their control.
We believe a no sale no fee offer is simple fairness. The industry needs to work together to do all it can to make homebuying and selling easier and should not be seeking to profiteer. A no sale, no fee offer helps to achieve that.
Because our own business model is based on a best practice offering, we will be able to offer consumers the possibility of exchanging on a property only 24 hours after making an offer. That is why we are able to make this offer.