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Home Information Packs?

What is a home information pack?

For many years the government has expressed concern over the high number of house sale transactions that fail, a figure not formally recorded but estimated at 30%. In early November 2005, the government confirmed that Home Information Packs (HIP) would be introduced to the start of the house buying process from 1st June 2007.

A HIP contains 2 vital elements; a legal report, consisting of legal searches, land registry extracts etc, plus an energy effciency certificate. It is optional whether to include a full Home Condition Report.

The government announcement of a launch date now allows everybody to plan with certainty for the most consequential change in the house buying process for decades. Just about everyone involved will be affected; estate agents, conveyancers and most importantly house sellers and buyers.

The contents of a HIP

Bringing the information contained in the HIP to the front of the sales process is aimed at making the sale more transparent and avoiding surprises later that result in offers being withdrawn or reduced. In addition, the HIP will provide an energy efficiency certificate for every house sold.