What is a Home Information Pack?

The Government has introduced Home Information Packs (HIPs) for property for sale with 3 bedrooms or more. From the 10th September 2007 all such properties must at least have had a Home Information Pack ordered.

How will Home Information Packs (HIPs ) help the current property buying and selling process?

The Government believes that Home Information Packs will reduce the stress of buying and selling a property by providing key documents from the time a property is put on the market for sale.  Currently this information is not usually made available until after an offer to buy has been negotiated. 

HIPs will aim to increase confidence in the sale process.  Estate agents marketing property for sale with Home information Packs will be required for the first time, to belong to an approved consumer redress scheme.  This means that more peace of mind and a better standard of service for customers.

What is in a Home Information Pack?

The Home Information Packs will include the key documents that are normally required when properties are bought and sold.  Some documents will be mandatory and others optional.  The Government will spell out which documents fall into the two categories and they are expecting to specify the following:

The mandatory documents are likely to include the following:

• An Index of contents
  
  
• A sales statement (summarising the sales details)
  
  
• Proof of ownership
  
  
• Local property searches
  
  
• An Energy Performance Certificate (EPC)
  
  
• Commonhold and leasehold information if appropriate

Optional documents will include:

• A home condition report
  
  
• Guarantees and warranties
  
  
• Other searches relevant to any particular area

The Government hopes to phase in the introduction of HIPs for properties with three bedrooms and less later in the year. 

Are there any exclusions from the Home Information Pack ( HIP ) regulations?

Home Information Packs will not be required on the following:-

Properties with 2 or fewer bedrooms
Properties in Scotland and Northern Ireland
Private sales where the property is not offered on the open market (eg. to a family member, neighbour, or friend);
Non-residential property or where homes are in mixed use with commercial property;
Properties sold with sitting tenants and not available for owner occupation;
Portfolios of residential property;
'Right to Buy' sales by Local Authorities or other social landlords;
Homes held on a lease of less than 21 years;  

What is an Energy Performance Certificate (EPC)?

The Government is committed to comply with EU Directive 2002/91/EC which aims to promote improvements in the energy performance of buildings.

The EU directive requires an energy performance certificate for all dwellings at the time of sale.

Energy Performance Certificates will tell property buyers and sellers about a property’s energy efficiency using A-G ratings, like those used to rate fridges and washing machines.  The certificates will also make recommendations for cost effective improvements that can be made to help cut fuel bills and carbon emissions.  Domestic energy consumption currently accounts for 27% of the UK’s carbon emissions, contributing to global warming.

The energy performance certificate, prepared by Domestic Energy Assessors or Home Inspectors who are members of a Government approved certification scheme, is designed to help home owners save on energy bills and reduce the environmental impact of their properties.  It is estimated that by following the recommendations in an EPC an average of £300 a year can be saved in fuel bills.

What is a Home Condition Report?

When included the optional Home Condition Report provides information about the condition the home is in and includes an Energy Performance Certificate.

The Home Condition Report rates the condition of each part of the home on a scale 1-3 (where 1 is best) - letting the seller and buyer know if any repairs are needed and, if so, whether they are serious. 

Buyers and sellers can rely on the Home Condition Report.  The Home inspectors who prepare them are qualified accredited and insured.

Where will I get my Home Information Pack? 

Acquire Properties will provide a Home Information Pack for people with property for sale.

Where can I find a Home Inspector or a Domestic Energy Assessor?

Acquire Properties will  provide a Home Information Pack for people wishing to a sell property in East Midlands including an Energy Efficiency Report carried out by our own qualified Domestic Energy Assessors.

How much will the pack cost?

The cost of preparing a Home Information Pack is likely to cost a house seller between £299 plus VAT.