Home Information Packs

Home Information Packs

The Government have announced that all residential properties will require a HIP from 14th December 2007....

The main changes that were announced on the 22nd November 2007:

• Properties with 4 or more bedrooms that came on to the market prior to 1st August 2007 and properties with 3 or more bedrooms that came on to the market prior to 10th September 2007 which do not have a HIP and are still on the market will not require a HIP.
• From April 2008 EPC's (Energy Performance Certificates) will be needed for ALL new build homes, commercial properties and all rental properties.
• The ability to market your property as soon as you can prove that you have ordered the HIP will extend up until 1st June 2008. After this date you will need to have the HIP completed before you can market your home though to complete the pack should only take around 6-7 days.
• The Government have amended the Leasehold information pack part of the pack so now the only document which must be in the pack is the Lease- you will not be required to gather the information from the managing agents which attracted an additional cost.

Although this is a big change in how property transactions take place the Government have still done little advertising about them which has left people still slightly confused by them, though they are actually quite simple.

The onus is now on the seller rather than the buyer to carry out the searches for the property that they are selling which can be a bonus for some first time buyers who could save around £150 by not having to get them carried out.

Most people are put off by paying money up front to commision the HIP, although you are paying up front for the pack most of the costs you would still need to pay in a standard sale and purchase anyway. If you are selling and buying and both properties have a HIP the additional cost of moving is mimimal most of the related costs are in the Energy Performance Certificate (EPC) which is the only new element of the pack.

The EPC has been introduced as part of EU Legislation to help us improve how 'energy efficient' our homes are, the report makes recommendations in three price stages on what effects on the household bills from using energy saving lightbulbs to installing solar panels.

Arscotts are able to offer one of the most cost effective Home Information Packs on the market and offer various payment terms designed to suit all. If you would like to know anymore infromation or would like to order a HIP please contact the department directly on (01273) 716440, email hips@arscotts.com or fill out our contact form