HIPS INFORMATION

What does HIP stand for?
HIP stands for Home Information Pack

What is a HIP?
A HIP is a series of pieces of information about a property being offered for sale. Under the new rules, a HIP is required for all properties being offered for sale with three or more bedrooms. The scheme will be extended to the whole market dependent upon the number of Energy Inspectors who become qualified.

What is in a HIP?
The HIP contains the key documents that are usually required when properties are bought and sold:

Compulsory documents

• Index (a list of the contents of the pack)
• Energy Performance Certificate (EPC)
• Statement of sale
• Evidence of title
• Standard searches
• If the property in question is leasehold, the pack will contain information about the lease and the Management of the building
• If the property in question is commonhold, the pack will contain information about the commonhold

Optional documents

• A Home Condition Report (HCR)
• A legal summary
• Guarantees and warranties
• A home use form
• A home contents form

What is an Energy Performance Certificate? (EPC)
EPCs are a way of assessing how energy efficient a given property currently is and how this could be improved . A trained energy inspector visits the property and assesses areas such as windows, loft insulation and the boiler and heating system. Properties will then be graded from A (the most energy efficient) to G in much the same way as fridges and washing machines are currently. The EPC will also make recommendations for cost-effective improvements that could be made to help cut fuel bills and carbon emissions.

Which properties need a HIP?
Currently residential properties with three or more bedrooms being sold with vacant possession will need to have a HIP. Smaller properties will be added to the legislation over time.

How do I get a HIP?
Very Simple !, If you instruct us to sell your property, we will complete the necessary paperwork and organise the HIP on your behalf with a professional HIP Provider.

How much does a HIP cost?
Typically, HIPs cost around £400 and there are a number of options available to sellers as to how to finance the initial cost.

 

I still have questions, where can I find out more information?

The Government website is a useful source of information or alternatively contact a Waterfords branch and we will be happy to take you through any questions or queries you may have.

WATERFORDS – THE HOME INFORMATION PEOPLE