Home Information Packs
For more information on Home Information Packs, visit the government’s official website, www.homeinformationpacks.gov.uk
What are HIPs?
HIPs stands for Home Information Packs which are designed to provide potential buyers with detailed information about a property prior to viewing.
Why were HIPs introduced?
Home Information Packs will benefit consumers and the industry by making the home buying and selling processes more transparent. HIPs will take the stress out of buying a home by speeding up the period between the acceptance of an offer and the exchange of contracts on a property. It is hoped that HIPs will benefit the property market by cutting the amount of deals that fall through (current estimate 28%).
What does a HIP include?
A HIP must include the following: An index listing the contents of the HIP; a sale statement; title documents; standard searches such as land searches; an Energy Performance Certificate (EPC) compiled by a qualified Domestic Energy Assessor; commonhold information; and a copy of the lease.
There are optional documents which may include: A Home Condition Report (HCR); additional leasehold information; guarantees and warranties; and other relevant searches.
Do I need a HIP?
All properties put on the market on or after 14 December 2007 will require a HIP.
How can I get a HIP?
Contact Londonliving.com we’ll be hippy to help you.
So how green is your home?
A vital part of the new HIPs is something called an Energy Performance Certificate (EPC) this tells you how much it costs to provide lighting, heating and hot water to a property and how friendly it is to the environment. It also gives advice on how to improve your homes energy efficiency rating and help cut your fuel bills. EPCs are provided by accredited energy assessors.
What will an energy assessor be assessing?
- The construction of your building
- The type of insulation
- The heating and hot water system
- The lighting
Please contact LondonLiving on 020 7703 2444 to discuss our free HIPs offer.