Home Information Packs
Home Information Packs, or HIPS as they are more commonly known, received more than their fair share of negative press. More than their fair share, because HIPS were actually an excellent idea, it was their implementation, or rather how they were implemented that was the screw-up.
Forcing home-buyers to buy a HIP for every property they were interested was a costly affair, far too costly for already struggling first-time buyers, who would, in most cases choose not to buy one, in which case the benefit of HIPS was practically cancelled out.
The current implementation makes much greater sense. New legislation made a Home Information Pack mandatory for every UK property on the market, but the people who are selling properties must lay-out the cash for the Home Information Pack on their property. Property sellers are for the most part only selling one property, it makes far more sense that they should have an initial and single outlay, as oppose to buyers having several.
What Are HIPS?
HIPs contain vital information needed by sellers and buyers at the very start of the home-buying process. They make transactions more efficient and therefore less likely to break-down between offer and exchange. HIP documents give both parties a clear, up front picture of the exact details of the property in question.
HIPS Mandatory Documents:
Freehold properties
- Home Information Pack Index
- Energy Performance Certificate (EPC)
- Sustainability information (required for newly built homes only)
- Sale statement
- Evidence of title
- Standard searches (local authority and drainage and water)
Leasehold properties
- All the compulsory documents above
- A copy of the lease
- HIPS Optional (Authorised) Documents:
- Home Condition Report
- Legal summary
- Home use/contents form
- Other documents such as specialised search reports (for example, the seller may choose to include a mining search in a mining area)
All UK property marketed for sale after the qualifying date should now have a HIPS pack available for your viewing.
» Get your very own HIP's pack