HIPs Update: 6th April 2009

1 April 2009

By Michelle Crowhurst, Conveyancing Manager, Residential Property

Changes to the Home Information Pack 

Selling and buying a home is likely to be the biggest transaction you will ever make.
The government's introduction of HIPs has placed more regulations - and penalties - on sellers than ever before. HIPs are an extension of the legal process of selling your home and it is important that you are looked after by professionals who understand all the requirements.
 
Barber Titleys has a specialist residential conveyancing team, which has helped tens of thousands of people throughout the UK move home, with minimum fuss, creating maximum peace of mind.
 
We are a natural choice to help you to address the requirements of the HIP. If you are considering selling your home, contact us first so we can get your HIP underway promptly.
 
Once you have decided to sell your house you will want to move as quickly as possible.
 
From 6th April 2009 your property cannot be marketed until a Home Information Pack is in place. The aim is to make the home buying and selling process easier, more transparent and more informed for consumers. With more information up front, buyers are less likely to incur wasted costs and sellers are less likely to incur delays.
 
If, as a private seller, you market your home without a HIP, there is a £200 penalty.
 
The required contents of the HIP are:
  • Evidence of the Legal Title.
  • Local Authority and Drainage Searches.
  • An Index and a Sale Statement.
  • If the property is Leasehold, a copy of the lease.
  • An Energy Performance Certificate (EPC) which will guide buyers as to the home’s energy efficiency rating.
  • Property Information Questionnaire (as from 6th April 2009)
It should be noted that not all Home Information Packs are the same. Whilst some pack providers prepare HIPs that have never been near a solicitor, at Barber Titleys we see the production of a HIP as part and parcel of the conveyancing process and we bring our own expertise to bear throughout the process and can ensure that you will have a fully compliant HIP which is not only legally compliant but valued by your selling agent and the buyer's solicitor.
 
Remember...
  • HIPs contain details about the legal title of your property and we believe that as an established legal practice we are best placed to provide accurate information.
  • The legal element of our HIP will be professionally verified.
  • Remember not all HIPs are the same.
  • A HIP from Barber Titleys will be trusted by other solicitors.
  • A poorly prepared or inaccurate HIP could slow down your transaction.

When you come to sell your home, make sure you are in safe hands.

 
 

 

Contact our team for more information.