Newsletter 1
HIP HIP Hooray!
Full marks to the Government for trying to reduce the inefficiencies involved with the home-buying process. However, a report of ‘must do better’ is certainly the opinion of the industry at present.
Click here for a comprehensive outline of Home Information Packs, including what is a HIP, why they have been launched, whether you need a Pack and how to obtain one. If you’re looking to sell soon, read on to find out more…
The main Political driver behind HIPS is the impact we and our households are having on the Environment. To meet the Governments EU directive to measure and improve energy efficiency of UK housing, an Energy Performance Certificate will be required in every pack. This will provide a specific energy 'rating' as well as comments and advice on how the property could be made more environmentally friendly.
Reports of properties flooding the market prior to the introduction of HIPS and people not selling due to the need for a HIP appear to have been exaggerated. In our Main Story - The Housing Market in 2008 – you may note a lack of reference to HIPs. Both esteemed economists felt the effects were negligible and extremely short term and transient in nature. All in all HIPS are a well-meaning measure and will hopefully provide us with a way of moving the housing market forward more efficiently and allow us all to live in a more environmentally friendly manner.
Properties marketed for sale from 14 December 2007 in England and Wales will need a Home Information Pack (HIP), which includes a home energy rating. The Pack includes an Energy Performance Certificate (EPC), containing advice on how to cut carbon emissions and fuel bills. Also included are documents such as a sale statement, searches and evidence of title.
The introduction of HIPs is being driven by the Communities and Local Government (CLG) with two main objectives in mind:
1. Approximately 30% of property sales in the UK fall through causing frustration and expense for all involved.
2. Providing information up front will enable potential purchasers to make a more informed decision much earlier in the process.
HIPs will not be required when selling the following:
• Non-residential property
• Mixed commercial and residential property
• Sales of tenanted properties
• Properties with leases of less than 21 years
• Private sales where the property is not marketed
• Unsafe (uninhabitable) properties and properties for demolition
Contact Us for more information on HIPS, a quotation or to see a sample of what a HIP looks like and the actual information enclosed.
Recommended links – www.homeinformationpacks.gov.uk