HIPs
Thinking of buying a new home or maybe you are ready to sell your current one and move on?
Whatever your reasons, you need to be aware of the new HIP scheme which has been introduced to provide buyers with the information they need in one pack.
All homes marketed for sale from 14 December 2007 in England and Wales will need a Home Information Pack (HIP).
A key component of the HIP is the Energy Performance Certificate (EPC), which will rate the home's energy efficiency, using graphs like those on fridges and washing machines.
It includes recommendations on how to cut fuel bills and reduce carbon emissions, encouraging people to make improvements to the energy efficiency of their homes.
Currently, any property that was already on the market on the relevant commencement date (ie 1 August 2007 for sales of homes with four or more bedrooms; 10 September 2007 for those with three or more bedrooms and 14 December for all properties) does not need to have a Home Information Pack.
At this stage no date has been set when all properties that are on the market will be required to have a HIP.