Home Information Packs

Home Information Packs "HIPS" are to be launched on 1 June 2007. From that date all homeowners in England and Wales will need to prepare a HIP before putting their home up for sale.

The pack will have to contain:

• a sale statement (summarising terms of the sale);
• evidence of title;
• standard searches;
• energy performance certificate;
• commonhold or leasehold information;
• new homes warranty.

Until 18 July 2006, the HIP was also to include a Home Condition Report (similar to a survey). However, the Government announced in July this year that HIPS will now be introduced via a phased rollout beginning with the Energy Certificate but not the remainder of the Home Condition Report.

Much has been discussed about the cost of a HIP, which has been estimated at being between at £750.00 and £1,000.00.

New research commissioned by The Law Society shows that 64% of surveyed people had never heard of the term "Home Information Pack" and only 1 in 3 is aware that packs will contain important legal documents. Almost 60% of those surveyed said they would be most likely to trust a solicitor to prepare the pack and 70% said they would rely their solicitor to interpret the information contained in the HIP.

26 September 2006