Home Information Packs - HIPs

After much hype and an incredible amount of criticism, the Home Information Pack (HIP) has finally arrived.

Any homeowner in England & Wales selling a property with three or more bedrooms, will need to provide a HIP. Smaller properties will be introduced into the HIP regime from the 14th December (whatever their size).

Like it or not - HIPs are here to stay.

This site is designed to provide members of the public with a concise and informative overview of the changes that are soon to take place.

Under the Housing Act 2004, homes with more than 3 bedrooms offered for sale will need to be accompanied by "Home Information Pack" which in very brief terms will contain relevant information about their home for the benefit of the prospective purchaser.

The HIP must be prepared at the expense of the home owner wishing to sell the property. The cost of a pack will vary depending on the provider but estimates should range from £400-650.

What the pack should contain

• The compulsory documents include:
   

• An index (i.e. a list of the contents of the Pack)
   

• An Energy Performance Certificate (EPC)

- A sale statement (summarising the terms of sale)
- Evidence of title
- Standard searches (e.g. local authority enquiries and a drainage and water search)
- Where appropriate, commonhold information
- Where appropriate, leasehold information

About the changes
 

The rule changes have been deemed necessary for a number of important reasons.

Buying and selling a your home can be one of the most stressful experiences in life. The process sadly does not always go as well as it should do. Most people would agree that changes are necessary to make the whole process fairer, cheaper and less stressful for all concerned.

Currently, one in four transactions collapse before contracts are exchanged and one million pounds a day is wasted, mainly due to transactions failing at a late stage.

The Government has now put together a very useful site that will assist people in learning more about the Home Information Pack Regulations. They also explain in more detail why they are necessary and what the changes will mean for the property industry as a whole.

Make an enquiry with us today - we may be able to help you find the right HIP package at the right price - Enquiry form

Read HIPS related news

• The Government today announced the roll-out of Home Information Packs (HIPs) to all properties marketed for sale in England and Wales from 14 December 2007, whatever their size.
   
• No Drop Dead Date - beyond which all properties will need a HIP has yet been set by the government - 12th October 2007

• From 10 September, all homes in England and Wales marketed with 3 or more bedrooms will require a Home Information Pack (HIP), to be provided to prospective buyers - http://www.homeinformationpacks.gov.uk/industry/120_press_notices.html

  HIPs go LIVE - 10 September 2007

• PAT testing (portable appliance tests) may become part of the Energy Performance Certificates in the future (ECPs) - 26th June 2007

• Start up date likely to be delayed even further according to RICS - 25th May 2007

• Government forced into dramatic U turn following judicial moves by RICS and pressure from the Law Society - 23rd May 2007

• House of Commons motion fails and RICS judicial review request is criticised by the government. Regulations will go ahead as planned on June 1st - [17th May 2007]

   

• Will searches prove to be the achilles heel for the HIP - [15th May 2007]

   

• The HIP Guidance paperwork has now been published by the government - [11th May 2007]

   

• Latest news on the number of Domestic Energy Assessors (DEA) released by the government. [25th April 2007]

   

   

• Re-launch for government specialist consumer & industry website [20th April 2007]

   

• More negativity regarding the Packs [13th April 2007]

   

• Government announce further adjustments to the HIPS regime in particular they have clarified "Properties already on the market by 1 June 2007 will not need a HIP unless they remain on the market after 31 December 2007"  [2nd April 2007]

• Hip trial - official update from the Government [21st March 2007]

• Ombudsman for Estate Agents to have new powers regarding complaints about HIPs [20th March 2007]

• The Whitehall publicity machine is about to kick into action. [2nd March 2007]

• Dept for Trade & Industry confirm the go ahead for HIPS on the 1st June this year [1st March 2007]

* THIS SITE IS FOR INFORMATION PURPOSES ONLY *

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