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We are leading providers of re-sale retirement property which offer property management, communication and security systems, a 24 hour emergency call response service and residential lettings. We also benefit from our close associations with principal managers of retirement property developments.
Home Information Packs (HIP’s) have been introduced by the Government to help streamline the buying process. Here are a few of the main facts about Home Information Packs, which will help you understand this new legislation.
Home Information Packs are now a legal requirement for anyone selling a residential property. To be compliant homeowners must be able to show that you have at least commissioned a HIP pack, and have paid or have made a commitment to pay for a pack. Once you have done this you can legally market your property even before you receive the complete report.
However this is likely to change and at present the Government have directed that from June 1st 2008 all residential property must have a HIP in place before marketing commences.
What is mandatory is the Energy Performance Certificate (EPC). Your home will be assessed to review its performance in terms of energy used per square metre of floor area, energy efficiency based on fuel costs and the environmental impact based on Carbon Dioxide emissions. Your home will then be given a rating according to performance.
The required documents in a HIP are: Index/Summary of Terms, Sale statement, Evidence of title, Standard Searches, Energy Performance Certificate, Copy of the Lease (if relevant).
The seller can opt to include other permitted information (e.g.additional leasehold information, a Home Condition Report, guarantees, or additional searches). However, at present, from June 1st 2008 the Government have directed that HIPS will have to include leasehold information such as service charge accounts, ground rent etc.