Home Information Packs

What are Home Information Packs (HIPs)?

Home Information Packs will be compiled by a property seller and will include information to help any buyer make an informed decision on a property.

Do I need a HIP?

From the 14 December 2007, all homes being put on the market require a HIP.  Before that date, the packs were only required on properties with three or more bedrooms. 

However, until 1 June 2008, sellers will be able to market their property once a pack has been commissioned and a commitment to payment made.  You won’t have to wait until a full pack is actually completed.

How do I get a HIP?

L&C has teamed up with LMS, a leading provider of HIPs, to provide competitively-priced packs.  LMS is a well-established company with over 15 years experience providing conveyancing, remortgage and valuation services for clients.

You can either:

• Complete the enquiry form below.  LMS will contact you at a convenient time to arrange a HIP. 
• Call 0870 380 7556 and speak to an LMS adviser immediately

 

What does a HIP contain?

Information that all HIPs MUST contain

• An index 
• An Energy Performance Certificate (EPC) which will tell both buyers and sellers about a home’s energy efficiency using a scale of ratings, A-G. The certificate will also outline recommendations for cost-effective energy saving improvements. 
• A sale statement
• Land Registry Official Entries and filed plan*
• A Local Authority Search +
• Water & Drainage Enquiries
  

*These documents will be replaced by copies of your actual title deeds together with a search of the Index Map if the title to your property is not registered at Land Registry.
+This may be a personal Local Authority Search completed by a Personal Search Agent as authorised by the Home Information Pack Regulations 2007.

Other documents that may be included in a HIP but which are optional are:

• Environmental Reports which can ascertain whether the property may potentially be affected by factors such as flooding, subsidence or landslip.
• Home Condition Report (HCR) which is an objective report on the condition of the property that can be relied upon by buyers, sellers and mortgage lenders. 

Leasehold Properties

If a property is leasehold then additional information must be included in the pack. Until 1st June 2008 the only required document will be

• A copy of the lease.
• Other leasehold documents will simply be authorised.  The other leasehold documents will be introduced as required on 1st June 2008.
  

How much does a Home Information Pack cost?

Costs vary depending on the property value and whether you choose to pay for your HIP upfront or defer the payment.  LMS HIPs start at £299 for properties up to the value of £2.5million.

Should I get my mortgage from the same company that supplies my Home Information Pack?

Probably not.  An anxiety about Home Information Pack Providers is that they will “suggest” that you have to use them for mortgage/protection advice.  This is not true, and you will remain free to choose your own mortgage.  We suggest you contact a whole of market no-fee mortgage broker, like L&C. 
Certainly, the three key questions you should ask anyone offering you mortgage advice are:
1) Are you authorised and regulated by the Financial Services Authority?
2) Are you able to offer advice from the whole of the market, or do you just work from a restricted panel of lenders?
3) Will you provide me with advice, and process my mortgage, without charging me a fee for the service you provide?
See also: House purchasing

Useful link: http://www.homeinformationpacks.gov.uk
Government’s website dedicated to HIPs – it provides useful information to both buyers and sellers as well as handy FAQs.