Since 14th December 2007, every property put on the market in England and Wales has required a Home Information Pack (HIP). Scotland is due to get its own version of HIPs sometime in 2009.
The pack contains important information about the property including a sales statement, searches and evidence of title. An important part of the pack is an Energy Performance Certificate, which contains advice on how to cut carbon emissions and fuel bills.
HIPs are a part of the government’s attempt to streamline the house buying process and protect the first time buyer from hidden surprises. As a first time buyer, it is important to have the essential information about a property as early as possible, which is why HIP’s are so useful. Such information saves time and money – most first time buyers need all the time and money they can get! Saving time and money will hopefully make buying your first house a little bit easier, which can only be good when you consider that buying a house is widely known to be the most stressful process that you can go through in your lifetime.
The amount of insulation a property has can make a big difference to the rating of the Energy Performance Certificate.
If you’re buying a home, you should ask the seller (or their agent) for a Home Information Pack, which contains an Energy Performance Certificate and a number of other compulsory documents.
If you’re a seller, you need to make sure you have commissioned a Pack by the time that you market your property. In conclusion, Home Information Packs are nothing but good news for first time buyers. HIPs save time, money and stress.
