HIPS – Important Information for Homeowners

Selling your home? We can offer HIPs FOR £416.

All homes marketed for sale since 14 December 2007 in England and Wales will now need a Home Information Pack (HIP). HIPs have been introduced by the Government to help reduce the number of sales that fall through by providing the buyer with key information at the start of the process. The Government also claim that all householders will benefit from having detailed information about the energy efficiency of their home, including measures to save on fuel bills and cut carbon emissions.

So, what does a HIP contain?

Compulsory Documents:

Index – lists the documents contained in the Pack.

Energy Performance Certificate (EPC) – rates how energy efficient a home is on a scale of A-G, band A being the most efficient with the lowest fuel bills. The EPC will also rate on a scale of A-G the impact the home has on the environment through carbon dioxide emissions. The EPC will include recommendations on ways to improve the property’s energy efficiency to save money.

Sale Statement – provides basic information about the property including the address, whether the property is freehold or leasehold, registered or unregistered, and if the property is being sold with vacant possession.

Standard Searches: Local and Drainage – the Local search can be provided by a personal search company or a local authority and is a certificate of the local land charges register relating to the property. It will also provide details of any planning decisions and road building proposals. A Drainage search provides details of the provision of drainage and water services to the property.

Evidence of Title – documents showing that the seller owns the property and therefore has the right to sell it. If the property is registered, these documents can be obtained from the Land Registry and include Official copies together with a title plan. Where the land is unregistered, the HIP must include an official search of the index map obtained from the Land Registry, and also the documents that the seller intends to rely on proving ownership.

Leasehold and Commonhold Information (if applicable) – for leasehold properties, a copy of the lease is required. For commonhold properties, an official copy of the register and title plan for the common parts should be provided from the Land Registry.

Optional Documents: These are included on a voluntary basis at additional cost to the seller.

Home Condition Report – contains information about the physical condition of the property. Sellers who choose to include this will have an early opportunity to carry out repair work or obtain quotes prior to marketing.

Other documents – sellers could speed up the sale by including non-standard searches in the HIP, for example a mining search in areas where coal mining has taken place. Sellers may also include guarantees and warranties for work already done to their homes.

HOW CAN WE HELP

Newsome Vaughan offer HIPs at a competitive price of £416 (including VAT) both locally and throughout the UK.

We offer an efficient service, producing the HIP within 5-10 working days (depending on access to the property for the Energy Performance Certificate). As soon as the HIP has been completed we will email it to your estate agents so that your property can be marketed immediately. You will also receive a hard copy of the HIP. This is all included in the price.

If you are selling your property and would like further information on obtaining a HIP, the Residential Conveyancing Team will be happy to help. We can also provide you with a quote of our legal fees for handling your complete conveyancing transaction. Please contact Emma Boucher (emmab@n-v.co.uk) or call 024 7663 3433 for further enquiries.