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Home Information Packs (HIPS)
HOME INFORMATION PACKS
As part of the Government commitment to to making buying and selling homes easier, Part 5 of the Housing Act 2004 has introduced a legal obligation on homeowners or their selling agents to have a Home Information Pack available when marketing homes for sale. This is set out in more detail in the Home Information Pack (No2) Regulations 2007 and associated Procedural Guidance. These have been further revised to reflect the Housing Ministers announcement of 22nd May 2007. The Government reasoning for HIPs implementation is also set out in their Regulatory Impact Assessment.
Home Information Packs will provide important information to prospective purchasers at the very start of their interest in a new home, giving increased transparency on key issues and meaning any offer to purchase is based on an informed decision.
For a limited transitional period until the end of 2008 a property may be marketed provided a HIP has been commissioned. The Energy Performance Certificate (EPC) must be made available to purchasers at the time of exchange.
If youre unsure what a Home Information Pack is, or what Home Information Packs contain, weve answered some frequently asked questions below:
A Home Information Pack will contain:
Terms of sale
Evidence of title
Copies of any planning, listed building and building regulations consents and approvals
Copies of warranties and guarantees, for new properties:
Guarantees for any work carried out on the property:
Local search replies:
An energy performance certificate.
A Home Condition Report will be provided on a voluntary basis and included as an authorised document.
Additionally, for leasehold properties:
A copy of the lease:
Most recent service charge accounts and receipts
Building insurance policy details and payment receipts:
Regulations made by the landlord or management company:
Memorandum and articles of the landlord or management company.
Are there any exclusions from the Home Information Pack regulations?
Home Information Packs will not be required on the following:
Properties in Scotland and Northern Ireland
Private sales where the property is not offered on the open market (eg. to a family member, neighbour, or friend);
Non-residential property or where homes are in mixed use with commercial property;
Properties sold with sitting tenants and not available for owner occupation;
Portfolios of residential property;
Right to Buy sales by Local Authorities or other social landlords;
Homes held on a lease of less than 21 years
What is a Home Condition Report?
The Home Condition Report element of the Home Information Pack is a completely new report format which has been developed by the Government with the help of organisations such as the Royal Institution of Chartered Surveyors. It will cover the general condition of the property bearing in mind its age, character and location and highlight any defects requiring action.
The Home Condition Report will be a mid range survey similar in detail to the current Homebuyers Survey and Valuation Report, but excluding the valuation.
What is an Energy Performance Certificate?
The government is committed to comply with EU Directive 2002/91/EC which aims to promote improvements in the energy performance of buildings.
The EU directive requires an energy performance certificate for all dwellings at the time of sale.
The certificate will give prospective purchasers an easy to read guide to the likely energy costs of occupying the property in a similar way that current white good have an efficiency label.
Domestic energy consumption causes 25% of national CO2 emissions, and heating uses 90% of energy in the home. Improvement in the energy efficiency of our homes is therefore important in reducing our overall emissions.
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