Home Information Pack (HIP)
What are Home information Packs (HIPs)?
A Home Information Pack or HIP as it is more commonly referred to, contains important information that sellers and buyers need to know and is designed to speed up the home buying process, by making sure the seller has information about their property ready before it goes on the market. This now applies to properties with 3 or more bedrooms. Properties with 1 or 2 bedrooms now require a HIPs if marketing after the 14th December 2007.
Do I need a HIP?
The following properties are exempt from the Home Information Pack regulations:
- Properties requiring no marketing (e.g. sale to a member of the family, neighbour or friend)
- Right to buy and similar sales by Local Authorities and Social Landlords
- Properties not available for occupation (e.g. tenanted)
- Property deemed to be unsafe or to be demolished
- Non-residential properties, seasonal/holiday accommodation and mixed commercial.
- Properties already on the market when the regulations were set (1st August for 4 bedroom or more and 10th September for homes with 3 bedrooms). *
- Properties in Northern Ireland and Scotland
* These properties will requires a HIP by 01st January 2008 before advertising of their property can continue.
What’s in a Home Information Pack?
A standard HIP will contain the following compulsory documents required to exchange contracts on a property:
- An index of contents, listing all documents contained in the pack.
- Energy Performance Certificates, which is similar to the certificates now provided with domestic appliances such as refrigerators and washing machines. It tells you how energy efficient a home is on a scale of A-G. The most efficient homes - which should have the lowest fuel bills - are in band A. The Certificate also tells you, on a scale of A-G, about the impact the home has on the environment. Better-rated homes should have less impact through carbon dioxide (CO2) emissions.
- Statement of Sale document summarising terms of sale, which must include:
- The address of the property being sold
- Is the property freehold, leasehold or commonhold
- Is the property registered or unregistered
- Is the property sold with vacant possession
- Where appropriate, a New Homes Warranty
- Standard searches to include:
- Local land charges register
- Planning decisions and road building proposals
- The provision of drainage and water services to the property
- Evidence of Title to include:
- An official copy of the title plan
- Official copies of the official register
- Additional information is required for leasehold properties
- Leasehold Supplements:
- Copy of the lease
- Statements of service charges
- Regulations made by the landlord or management company
- Memorandum and articles of the landlord or management company
Some documents in the Home Information Pack are optional including a Home Condition Report (building survey), detailing the condition of the property.
Where can I get a HIPs?
OwnerHome now offer competitively priced HIPs. Our Home Information Packs are provided by HIPSCO, a long established company dedicated to providing excellent service.
Do I have to pay for my HIP upfront?
OwnerHome offer a deferred payment option for all HIPs ordered with our advertising packages, for 10 months or until sold (if completion within 10 months).
NB: beware of estate agents offering ‘free information packs’, as the cost will undoubtedly be recouped by a higher commission rate on the property sale or unreasonable contract clauses.
How much will it cost me for a HIP with OwnerHome?
At OwnerHome we offer one of the most competitively priced HIPs on the market and can provide the HIP in digital or hardcopy format.
Our HIPs include an Energy Performance Certificate.
Our prices:
Advanced payment options*:
| Price Sheet | |
|---|---|
| 1-3 Bedrooms: | £299 + VAT = £351.33 |
| 4 -5 Bedrooms: | £319 + VAT = £374.83 |
| 6+ Bedrooms: | £329 + VAT = £386.58 |
* Rates quoted for freehold properties only
Save £15 off the net price of all HIPs when you order your pack in digital format!
Add £50 +VAT for New Builds, leasehold or commonhold properties.
Deferred payment option:
Please add 10% to the price (i.e. £351.33 + 10% = £386.46).
Deferred cost option for the HIP permits you to pay on completion providing this takes place within 10 months. If you take the property off the market before sale, the fee becomes payable.
How long will it take to create my HIP?
At OwnerHome, the majority of our HIPs are delivered in under 5 days, providing that the seller is available to provide access for the energy survey. As long as your Home Information Pack has been ordered, you can start advertising with us whilst the pack is being prepared.
