HOME INFORMATION PACKS

What is a Home Information Pack?

Home Information Packs are now compulsory for all sellers of residential property. It is an offence to market a property unless a Home Information Pack (HIP) has been commissioned for inspection by a prospective buyer.

Why is a Home Information Pack needed?

The purpose of the Home Information Pack is to ensure that all relevant documents and searches are available when the property is marketed. Currently this is left until after a buyer has been found, often resulting in delays of weeks or even months. Many transactions fall through after the buyer has seen the survey which is often not available for some weeks, during which time the buyer may have paid for searches and other fees and expenses. The new rules recommend that the seller obtains a Home Condition Report from an approved home inspector so that the buyer can easily identify any potential problems with the property before making an offer and incurring expense.

Why is an Energy Performance Certificate Needed?

The Energy Performance Certificate, as well as containing information on how to reduce excessive unwanted emissions into the environment and consequently reduce fuel bills, will certify the quotient of energy efficiency rated per household on a scale rating A as highly efficient, and down to G as being the least efficient standard.

Are there any exemptions?

There are some exemptions to the regulations and Sellers should seek advice from a qualified property lawyer prior to marketing to assess whether a Home Information Pack is required. The exemptions are set out briefly below:

• Business Use - properties that are classed as a business under the planning regulations and that will remain a business at legal completion;
• Residential property converted to business use - a dwelling that has been converted with the appropriate planning consent to business use and that will still have business use at legal completion;
• Mixed Commercial/Residential Sales - properties that are a mixture of business and residential i.e. a shop with a flat above;
• Dual Use - properties that are used for both business and residential purposes i.e. a Doctor's surgery with living accommodation;
• Portfolios of Properties - a number of properties that are being sold together as a portfolio;
• Unsafe Properties - properties that have been deemed unsafe for habitation by the planning authority and that will remain in that condition on legal completion;
• Demolition - property that has a demolition order on it and that will remain in that condition on legal completion; and
• Properties not being placed on the Open Market - property that is sold by landlords to existing tenants (i.e. right to buy and housing associations), property sold to friends/family etc. that has never been placed on the open market.

How long does a Home Information Pack last?

Until the home is sold. If the home is taken off the market for less than a year and then re-marketed, the same Home Information Pack may be used.

What happens if I put my home on the market before the regulations began?

You won't need a Home Information Pack unless the legislation changes.

What about the "free HIP" offers?

Whoever pays for the HIP owns the HIP, therefore you should consider carefully any offers of FREE HIPs as this could mean that you will be tied to that agent. If you pay for the HIP yourself it will give you the freedom to market your home in a variety of ways. With HIPy Ltd, you get the peace of mind and freedom of having total ownership of your HIP with some of the most competitive prices in the market.

How much is a Home Information Pack?

Payment Methods

• Option One - Pay upfront using a credit or debit card (credit cards will incur an additional 2.5%);
• Option Two - Payment by cheque, please make cheques payable to HIPy Ltd; and
• Option Three - Internet transfer or telephone banking, please call us for our bank details.

How do I get a Home Information Pack?

Simply call our team on 0800 084 2074, or you can contact us and our trained staff will be happy to help with any questions you may have.

Alternatively you can fill in one of our Home Information Pack Applications (click here), and return it with your payment and any required documentation to:

HIPy Ltd
Unit 3,
76 Stephenson Way,
Formby,
Merseyside
L37 8EG