Home Information Packs
When were HIPs launched?
The much debated Home Information Pack (HIP) was introduced with effect from 1 August 2007 for homes with four bedrooms or more.
From 10 September 2007 the scope was extended to include homes with three bedrooms or more and from 14 December 2007 to include every home, no matter what size. A HIP is required in order to place such homes on the market for sale.
What is in a HIP?
The HIP must contain documents such as searches, evidence of title and a sale statement, which gives basic information on the property. An Energy Performance Certificate, including advice on ways to cut carbon emissions and fuel bills, must also be contained in the HIP.
Who is affected by HIPs?
If you are selling a residential property (other than a tenanted property) you need to ensure you have commissioned a HIP by the time that you market the property. If you do not commission a HIP before you place your home on the market, a penalty of £200 for breach of the HIP regulations may be imposed.
How can Endeavour help?
Endeavour can compile a HIP on your behalf. This is a service tailored primarily to accommodate the firm's commercial clients.
How much will a HIP cost?
The cost of compiling a HIP will vary depending on the area in which the property is located. This is due to different local authorities charging different rates for searches. The fees of domestic energy assessors vary depending on the location of the property.
Endeavour anticipates that the approximate cost of a HIP will be in the region of £350 plus VAT for a freehold property. The cost of a HIP for a leasehold property will be slightly more as additional documents must be included in the HIP.
Further Enquiries
Should you have any further questions or queries, please contact Satpal Pandal 01642 610345.
