HIPS - Get To Grips With HIPS With Your Local PSG Expert
The introduction of Home Information Packs (HIPs) between August and December 2007 was designed to improve the home buying and selling process.
By presenting more information about a property up front, it is hoped that this will help prevent lengthy delays later on in the sale process; these delays have historically caused chains to collapse.
On 1st August 2007, HIP’s were introduced for 4 Bedroom properties or larger amid plenty of controversy and debate. However, the Government pressed ahead and introduced HIP’s for 3 Bedroom properties on 10th September 2007 and then rolled the initiative out to affect all domestic properties on 14th December 2007.
HIP’s are commissioned by vendors but they only pay for the information once, as the house they are buying will have paid for their HIP and so on. Until May 31 2008, vendors need only have commissioned a HIP in order to market their property, however, after this date, the Government will expect vendors to have each of the minimum required documents that make up a HIP in place before they market their property.
So HIP’s are here and look like they are here to stay, so what is a HIP and how do you go about getting one?
What's in a HIP?
Since December 2007 every home that is marketed for sale must have a HIP that includes these documents as a minimum:
- An Index (list of contents)
- Energy Performance Certificate (EPC) New
- A Sale Statement (summarising the terms of the sale)
- Evidence of Title
- Standard searches (e.g. Local authority enquiries and a drainage and water search)
- Where appropriate, common hold/leasehold information
What’s in a EPC?
The Energy Performance Certificate is new. It tells buyers and sellers about the energy efficiency of a house and is administered by a trained Domestic Energy Assessor.
By including an Energy Performance Certificate (EPC) in the HIP, the Government is trying to make homeowners think more about energy and how to conserve it. The certificate rates both the energy efficiency and the environmental impact of homes on a scale of A to G.
Each rating takes into account the age, location, size and condition of the building and makes recommendations on where improvements for energy efficiency can be made.
Your local PSG HIP Alliance
PSG is an established company that has been delivering local property searches since 1997. It has 84 regional offices throughout England and Wales and offers complete or the individual ingredients of a HIP to Solicitors, Estate Agents and the general public. PSG Derby also administers the new Energy Performance Certificates from experienced and trained inspectors.
The HIP Alliance products and services are all covered by £10m worth of cover, one of the most comprehensive in the market place today.
Our advice is to buy a good quality HIP and buy it from a local provider – contact your local PSG HIP Alliance on 01827 702418 for more information.
PSG HIP Alliance Tamworth
- Quality HIP’s with flexible payment options
- Experienced team of local property professionals
- Member of PCCB – regulator for HIP Code
- PSG leading UK property search provider for 10 years
- Participants in the Government’s HIP pilot
- Offers complete HIP’s, dual branded HIP’s, Individual components for businesses’ own HIP service
- Fully functional web ordering system at www.thehipalliance.com