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Conveyancing Information Packs

 

 

What is a Home Information Pack (HIP)?

 

Home Information Packs (HIPs)What is a Home Information Pack (HIP)?

A Home Information Pack is a pack that contains detailed information about a property. Preparation of a HIP will be a statutory requirement imposed on the vendor of that property prior to marketing it, whether through an estate agent, on the internet, or by other means.

Home Information Packs have been introduced:

- To reduce the cost of entering the housing market for first time buyers.
- To reduce the millions of pounds wasted on failed transactions.
- To improve the quality of information provided to the buyer at the outset.
- To reduce the time between acceptance of an offer and completion.
- To reduce the fall-out rate.

There are two kind of documents that a HIP may contain; those that are required (mandatory) for all properties and those that are authorised (optional), to be included at the sellers discretion:

What is in a Required Pack?

  • Index of document contained in the pack
  • Sale Statement
  • Official Copies of the Land Registry Title documents and Plan
  • Energy Performance Certificate (EPC)
  • Local Authority Search (including Land Charges, Planning and Highways)
  • Water & Drainage Search
  • Copies of any leases or licenses to which the property is subject

The elements in BOLD will be required before a property can be marketed, from the 1st January 2008. The other elements are required within 28 days of marketing.

For a Leasehold property, there are certain other documents that are required:

  • The Lease
  • 3 Years service charge accounts
  • Recent ground rent
  • Service charge and insurance charge requests
  • Landlord / Managing agents details

Authorised (Optional) Documents:

There are several situations when a Home Condition Report (HCR) should be considered. Please Click Here to the HCR and EPC Section


Do all residential properties need a Home Information Pack?

At present homes with 3 bedrooms or more require a HIP, but are a few exceptions:

  • Non Residential Properties
  • Properties where there is no marketing (for example sale to a family member)
  • Properties over 5 hectares where the land is used for horticulture or cultivation, i.e. farm type properties, not houses with large grounds.
  • Seasonal and holiday accommodation
  • Mixed Sales (e.g shop with flat)
  • Sales of portfolios of properties
  • Right To Buy purchases
  • Properties not being sold with vacant possession
  • Unsafe Properties and properties to be demolished

Home Information Packs

 

Contact Info
The Conveyancing Report Agency
61 Northgate
Almondbury
Huddersfield
HD5 8RX
T: 01484 535 600
E: info@crasearches.co.uk