Home Information Pack
Buying a home can be like trying to find your way through a legal, financial and administrative maze. Before the introduction of the HIP or the Home Information Pack, buyers in Manchester and elsewhere around the UK had to make a formal offer before seeing important information about a property. This could be a stressful and costly experience which was prone to delay and failure.
The main aim of HIPs is to improve the home buying and selling process in England & Wales and further help reduce excess carbon emissions from homes.
A HIP pack must be made available to potential buyers as failure to do so can result in a fine.
What does a HIP contain?
The following documents are specified as 'Required Content' and must be included:
- Index
- Sales Statement
- Land Registry Title & Plan
- Energy Performance Certificate
- Local Authority Searches
- Drainage and Water Searches
- Additional Documents for Leasehold Properties
- Copy of the New Homes Warranty (if applicable)
The following 'Authorised Documents' do not have to be included. However, based on your individual property details, they may be recommended to assist with your sale:
- Home Condition Report
- Additional Property Searches including Environmental Searches, Warranties and/or Guarantees
- Additional Land Searches
- Home Use and Home Contents Form
Are the contents of the HIP easy to understand?
Yes but we recommend the legal documents should only be interpreted by a qualified Conveyancer/Solicitor.
How much will a HIP cost?
The cost of the HIP will vary according to the property type and the way the HIP is presented. Payments can be made either by credit/debit card or by a simple deferred payment (credit) arrangement.
It is important to remember that some of the costs involved in producing the HIP already exist in the conveyancing process and should therefore reduce costs normally incurred at a later stage.
Who orders a HIP and how long will it take to put together?
Park View Mortgages Ltd can order your HIP from a HIP provider based in Manchester. We can also provide competitive HIP quotations for our clients in locations outside the Manchester area.
In most instances, a HIP will take 5-7 working days from when the pack has been ordered. You can be sure that the information included will be produced to the highest standards, with accuracy guaranteed. Contact us NOW on 0161 773 1069.
Contact Park View Mortgages directly on 0161 773 1069 for all Greater Manchester or other UK Home Information Packs - or fill out our on line enquiry form.
Home information Packs are not regulated by the Financial Services Authority. An additional fee may be payable for this service.