Home Information Pack

What is a Home Information Pack (HIP)?
A HIP is a document containing almost everything a buyer/lender’s solicitor will require in order to exchange contracts on the purchase of a property. This includes the terms of sale, evidence of title, standard local authority and water searches, planning consents, and an Energy Performance Certificate. Other information can include warranties, guarantees and other searches. ( see below Energy Performance Certificate. )

When do I need a HIP and how is it used?
The law requires you to commission a HIP before you market your property. Marketing includes advertising, placing on the Internet, circulating property particulars or generally making it known that the property is for sale. Homesale can prepare particulars but may not publicise the fact that the property is for sale until certain key elements of the HIP have been ordered – principally the EPC and the documents from the Land Registry. Once the HIP has been produced it must be made available to any genuine intending purchaser who requests it, and a reasonable charge may be made for paper copies. Free copies may be available online. In certain circumstances, such as farms, tenanted, condemned, commercial and mixed-use properties, a HIP is not mandatory. The legal requirement to commission a HIP is ever changing, so it is worth checking with us what your legal responsibilities are currently.

Who Organises the HIP?
Homesale offer Home Information Packs, compiled by LOCAL providers. The cost of a HIP with those providers is £275 inc.VAT for a freehold property and £300 inc vat for a Leasehold property. Homesale do not believe that we should profit from the legal requirement that sellers require a HIP. We do not profit in any way from the HIP provider, which is how our providers offer a value for money HIPs service.

We do appreiciate that some sellers may require a deferred payment as it is not always financially viable to pay for the HIP immediataley. Our providers can offer this service at £350 inc VAT, still less than many HIPS may cost if making payment immediately.

Equally, Homesale do not require that you commission a HIP with our providers, all our clients are free to commission a HIP with any provider they choose.

Energy Performance Certifications (EPC's)
An Energy Performance Certificate (EPC) is a mandatory part of the Home Information Pack. Also from mid/late 2008, landlords of rental properties will be required by law to provide a valid energy certificate, which should be available on request to any prospective tenant, before a contract can be drawn.

The Energy Performance Certificate provides your property with a standardised Energy Rating from A to G, and will provide you with a list of recommendations and improvements. These will help you to make informed decisions about cost effective measures, helping you to make your home more energy efficient, to save you money, increase your energy rating, and reduce your personal carbon footprint on our planet.

If you would like general information on the Packs including their requirements, how they are 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 or rental of your property please e-mail us at sales@homesaleofchester.co.uk