Home Information Packs (HIPs)
It is now mandatory for any residential property coming onto the market for sale to have a HIP prepared. This is Government legislation.
As you would expect of Whitton & Laing, we are ready with solutions for our clients which will ensure they are not burdened by the pressures or worries of preparing HIPs.
But in case all of this is news to you and you have no idea what a HIP is, here is a brief resume.
A Home Information Pack is a package of documents which include an Energy Performance Certificate (this gives a rating of the insulation and CO2 performance of a property), basic title documents, basic local authority search and water and drainage search and, for leasehold properties, a copy of the lease and all the details relating to that lease. In addition, there is an index of contents and a sales statement which is essentially an outline of the property, its tenure, its owner and its sale price. All of this will be required in a pack, known as a HIP, when an owner puts their property on the market and then made available if requested by a purchaser.
In addition, Home Information Packs can contain a host of other authorised documents should a seller wish to include (and indeed pay more for them) such as a Home Condition Report, warranties and guarantees, additional searches, a fixtures and fittings list, to name just a few.
WHAT IS THE PURPOSE OF A HIP
When conceived several years ago, the Government claimed their purpose was to speed up and reduce the cost of the process of buying and selling property and to remove the gazumping phenomenon. The debate which has raged for the last few years has clearly demonstrated that none of these objectives will be met by HIPs in the form they have been introduced. So the Government have turned the focus on the reason for a HIP being the inclusion of an Energy Performance Certificate from a “green” perspective rather than a HIP actually improving or speeding up the process. Regrettably this will do little to improve the carbon issues either. Whitton & Laings’ Solutions For Clients
We have a variety of options from which our clients can choose, depending on their needs and circumstances.
To find out more about HIPs in general and details of our client choices, contact us
If you would like more general information on the Packs including their requirements, how they will be implemented and the general situation concerning HIPs go to www.homeinformationpack.gov.uk
If you would like advice and more information about how this might affect you and the sale of your property either now or post HIP implementation, please e-mail us using: hipsinfo@whittonandlaing.com
