Jump to main content of pageaccessibility informationSitemap
21 Apr 2018

Mortgage Advice

Colleys

Hometrack House Price Comparison
Energy helpline Utility Switch
rightmove.co.uk
Build Store

Specialist UK Mortgages...

  1. Bad Credit
  2. 95 % Mortgages
  3. 100 Percent
  4. Help to Buy Mortgage
  5. Shared ownership
  6. Professional
  7. Lifetime
  8. Btl Mortgage
  9. Portfolio Mortgages
  10. Let to buy
  11. Self build
  12. Council right to buy
  13. Mortgage Protection
  14. Mortgage Surveys
  15. Mortgage Info

Home Information Pack Explained

Mortgage LendersMortgage Repayment CalculatorFree Mortgage Advice

Home Information Pack HIPs

Home information packs are no longer required to sell a home in the uk.

The home information pack will be required and become law for all homeowners with 4 bedroom properties and larger in England & Wales who put their home up for sale from the 1 August 2007.

Up until the end of 2007 marketing of a 4 bedroom home or larger can begin as soon as a home information pack is ordered.

The government has indicated that home information packs will be phased in for smaller properties, though no date has been set for this. All that has been said it is dependant on the number of accredited energy assessors rising.

It is believed that Home Information Packs (Home Seller Packs) will bring greater certainty to the whole home buying process and speed up transactions.

Home information packs extended to three-bed homes

The government has anonced that it will extend the Home Information Pack scheme (Hips) to cover three-bedroom homes in England and Wales from 10 September 2007.

What is a Home information Pack?

The home information pack will be made up of a number of items, some of which will be compulsory.

The HIP will include:

An Energy Performance Certificate

    This simply rates the energy efficiency of the property and its carbon emissions on a scale of A-G. The energy performance certificate will also point out how to improve energy efficiency for the home and likely fuel costs.

A Sale Statement

    This will be a summary of the terms of the sale such as who is selling the property and whether the property is being sold with vacant possession.

Evidence of the title

    This confirms the seller has the legal right to sell the property.

Standard Searches

    These will include the standard local authority searches, drainage and water searches.

How much will a Home Information Pack Cost?

The cost of a Home information pack has not been set yet and will be driven by market forces, the cost is estimated to be between £250 and £600.

Does my Estate Agent have to do my HIP?

When the home information pack is made compulsory for on the 1 of August 2007 4 bedroom properties and larger, many estate agents will be offering home information packs as part of their marketing process. As the cost of setting up a home information pack will not be cheap many estate agents will meet this cost initially for you and only ask you to pay it on sale of the property or if you dis-instruct them. Numerous organisations are setting themselves up to offer hip's, from solicitor firms to specialist hip providers, as such Estate Agents are unlikely to make it compulsory for you to use their own home information pack. The estate agent that you instruct will require to see evidence of your home information pack

Are there any exclusions from the Home Information Pack regulations?

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

  • Properties in Scotland and Northern Ireland
  • Private sales where the property is not offered on the open market (i.e. to a family member, neighbor, 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

 

Main points from the Home information pack regulations

• Properties on the market prior to 1st August 2007 will require a HIP only if they remain unsold as of 31st December 2007, this is referred to as the ‘drop dead date’.

• The Energy Performance Certificate is now required to be the first document in the pack after the index.

• A property may be marketed once certain required documents have been received and it can demonstrate that other mandatory documents have been ordered. (Please refer to below ‘EPC’s become critical to the marketing of a property’).

• Personal searches may be used and the HIP provider will have to demonstrate that they expect to receive them within 28 days. The HIP provider will have to provide evidence that every effort has been made to compile the documents if they take longer than 28 days.

• An environmental report is allowed to be included in the pack and is often required by the purchaser’s Solicitor as part of the Conveyancing process.

• Estate Agents must include the energy performance graph as a minimum requirement with their particulars for the property.

 

Do you want fee free mortgage advice?

For independent mortgage or remortgage advise please feel free to contact us for independent mortgage advice from a professional mortgage advisor.

 

You may also be interested in:

We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £500

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.

Go Direct.co.uk is a trading style for website purposes of Go Direct UK Ltd.

Go Financial Services is a trading style of Go Direct UK Ltd which is an appointed representative of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales Company 5703224. FCA Number 456600

We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £500