HIPs EXPLAINED
The Government has introduced Home Information Packs (HIPs) to help speed up the home selling process and provide vital information that will help in reducing excess carbon emissions from residential properties. Every year millions of pounds are wasted on transactions that fall through. HIPs will help prevent this terrible waste and ensure that searches and vital information needed by the buyer are provided at the start of the transaction. A buyer will be provided with an Energy Performance Certificate giving performance ratings for the property that can help the seller or the buyer pinpoint areas that might be improved to assist with energy conservation. The person who markets your property is responsible for obtaining the HIP and this will usually be your estate agent. Failure to obtain a HIP before marketing can result in a fine.
Since April 6th 2009 all property marketed for sale will require a basic HIP (Home Information Pack) and an EPC (Energy Performance Certificate). The pack contains some search details and title documents on your property and in the case of leasehold a copy of the lease; the EPC is simply a report on your home’s energy efficiency much like the rating you see on new washing machines and fridge freezers.
Estate agents need to have a copy of a HIP before they can advertise your property on websites or in the paper.
They can also delay paying for your HIP until your property is sold subject to some terms and conditions, so don’t delay moving because of a HIP - call us to arrange one today.
Why do you need a HIP?
A HIP is a set of documents that provides the buyer with key information on the property and must be provided by the seller or the seller's agent. It is a legal requirement in England and Wales to have a HIP and you cannot market your property without one.
The HIP lets buyers see important information about the property at the start of the process, free of charge. This means there is less chance of buyers becoming aware of any surprises at the end of the process. The HIP can help reduce delays and extra expense to the buyer and seller.
Who Needs a HIP?
Owing to new regulations announced on April 6th 2009, a Home Information Pack now needs to be made available before any marketing starts.
Contents of a Home Information Pack
The following documents are compulsory and must be included in your HIP. As of April 6th 2009, property marketing cannot commence unless the Basic HIP contains:
Freehold properties
The mandatory documents are:
- Home Information Pack Index
- Property Information Questionnaire (PIQ)
- Energy Performance Certificate (EPC) or Predicted Energy Assessment (PEA)
- Sale Statement
- Official copies of Land registry Title Plan and Register (or a search of index map unregistered)
Your property can be marketed as soon as the above documents are ready. The documents below can obtained within 28 days (but will not delay marketing property)
- Local Authority search
- Water and drainage search
- A HIP for a newly built home must have a certificate (or interim certificate) showing the rating that the home has received in respect of the Code for Sustainable Homes or a nil-rated certificate showing that the home has only been designed to meet current building regulations.
Leasehold properties
- All the compulsory documents above
- A copy of the lease
Optional Documents Include:
- A Home Condition Report (HCR)
- Management company information
- Additional leasehold information
- Guarantees and Warranties
- Other searches relevant to the particular area
ORDER YOUR HIP
(for account holders)
(for non-account holders)
Home Inspectors and DEAs
Search Accreditation
CNC HIPSearches Ltd has been accredited for SEARCH CODE by the Property Codes Compliance Board
Property Information Questionnaire (PIQ) - For New Builds