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Home Information Pack Update

On the 14th December 2007 Home Information Packs became compulsory for all properties, regardless of the number of bedrooms. Given that HIPs have now been with us for several months in respect of four and three bedroomed properties, the end of the year presents us with a good opportunity to separate the facts from the fiction and finally dispel the confusion that still surrounds many aspects of the packs.

The content of a HIP is as follows:

• Index of Contents
• Energy Performance Certificate
• Land Registry Evidence of Title
• Local Search
• Drainage and Water Search
• Summary Statement

One of the most common misunderstandings is that the HIP contains a survey. This is no longer the case, the Government having removed this element of the pack prior to implementation.

The only new aspect of the pack is the inclusion of an Energy Performance Certificate. Like the coloured graph on the door of a fridge, the "EPC" rates a property in terms of its current energy efficiency against its potential level of efficiency whilst also giving a rating for carbon emissions and advice on any improvements that could save money on fuel costs and make the property more environmentally friendly.

In order for a property to be offered for sale on the open market, the selling agent must be able to provide evidence that the pack has been ordered. There is then a period of twenty eight days in which the property can be marketed before the HIP has to be produced. As the position stands, this will continue to be the case until June 1st 2008 when the completed pack will need to be in place before marketing can commence.

For a freehold property of straight forward registered title, a period of around five to ten working days is currently the anticipated time scale for a pack to reach its completed stage.

For properties of leasehold tenure, a copy of the lease will need to be included in the HIP. At a later stage the Government intend to introduce the inclusion of other relevant leasehold documents including management company information and accounts.

The "shelf life" of the HIP is twelve months. This means that a property can be taken on and off the market with no need for a further HIP as long as marketing recommences within the twelve month period.

Finally, for any seller that commenced marketing before HIPs were introduced, there is currently no requirement for a HIP to be commissioned. The Government has however, reserved the right to introduce a so called "drop dead" date at a later stage if it sees fit.

At Wiglesworth & Co our intention is to ensure that your HIP is produced swiftly and efficiently, thus allowing maximum attention to be paid to what really matters: the sale of your property. Our own in house surveyor and Domestic Energy Assessor will be on hand to produce your Energy Performance Certificate and our complete HIP solution allows for the other key elements of your HIP to be in place with the minimum of delay.

We are also able to offer our clients a range of HIP payment options including deferred payment on completion as well as an attractive discounted option should you decide to pay for your HIP at the commencement of marketing.

Further HIPs information updates will appear on our website as future developments occur, but please do not hesitate to call if you have any HIPs related questions or would like us to arrange a free, no obligation, appraisal of your home.