Launch date for Home Information Packs is imminent

Permalink: Launch date for Home Information Packs is imminent
by Kay Murchie

Home Information Packs (Hips) are to be extended to include all properties from next week so selling your is going to get far more complicated.

Hips were launched on August 1 to include properties with 4-bedrooms or more and rolled-out to include 3-bedroom properties on September 10. Hips have been continuously subject to heavy criticism since they were introduced.

The Royal Institution of Chartered Surveyors (Rics) and the National Association of Estate Agents (NAEA) have both said that Hips have contributed to fewer number of larger properties being put up for sale since August.

Furthermore, estate agents say they complicate, rather than simplify, the sales process as they were intended to do and consumer groups say they don’t go far enough because they don’t contain a report on the state of the property.

Hips take around a fortnight to compose and contain many details including an Energy Performance Certificate (EPC) which rates the energy consumption of the home, a sale statement providing details of your property, the local search from the council, title deeds from the Land Registry and leasehold or commonhold information if the property is not freehold.

Charges range from £300 to £500 plus VAT. Those found marketing their property without a Hip could be fined £200.