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HIPs: what are they good for...................
Comments
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This is what you get:
PART 1 - General - Required Documents
Home Information Pack document
HIP Index
Energy assessment
Energy Performance Certificate
Sale statement
Title information
Official entry title plan
Searches
Local Authority search
Water and drainage search
To the best of my knowledge first time buyers won't save any money as mortgage providers will require the buyers solicitor to conduct their own searches.That gum you like is coming back in style.0 -
Chriserenity,
By 'red herring' I meant in terms of the original concept of the HIP. I agree with you in its eventual acceptance as a valuable assessment of the energy efficiency of a property (and the possibility of upgrading it) but it was only added to the HIP as an easy way of getting it introduced without needing a new bill in parliament. It was never a part of the 'make house sales easier' concept of the HIP.
Because it was introduced as part of the HIP which is only produced when a property is marketed, it doesn't even properly comply with the EEC regulations about regular review.0 -
Chriserenity,
By 'red herring' I meant in terms of the original concept of the HIP. I agree with you in its eventual acceptance as a valuable assessment of the energy efficiency of a property (and the possibility of upgrading it) but it was only added to the HIP as an easy way of getting it introduced without needing a new bill in parliament. It was never a part of the 'make house sales easier' concept of the HIP.
Because it was introduced as part of the HIP which is only produced when a property is marketed, it doesn't even properly comply with the EEC regulations about regular review.
I'd say that depends on the property. According to EU rules the EPC has a life of 10 years and if the property is sold quite often it could end up with an EPC every 1/2 years e.g. forces housing where people buy and sell very frequently. Conversely if you have a family who never move e.g. my family has lived in the same house for over 25 years ...
In other countries the EPC is not part of the selling process but is carried out in various ways by various people. I don't know if they'll try and cover most of the housing stock in HIPs then have a big drive for the remaining non-mover privately owned stock in a few years. Who knows? All I know is I'm confident the EPC will succeed both as a stand alone document produced by independent energy assessor (as in the rental market) or in the HIP as a component document.Happy to help with HIPs and EPCs0 -
This is what you get:
To the best of my knowledge first time buyers won't save any money as mortgage providers will require the buyers solicitor to conduct their own searches.
It makes NO sense for mortgage providers to ask the buyers solicitor to waste money on a search showing exactly the same informaton as that contained in the HIP. More than likely the search would be carried out by the same person! In fact the insurance which comes with the searches covers the mortgage providers as well as every other party involved in the process. See an example of an insurance certificate found at the end of the LA search: http://www.hipview.co.uk/hipview.php?id=9645 (this is not my site but an online portal for displaying HIPs like rightmove for property)Happy to help with HIPs and EPCs0 -
chriserenity wrote: »According to EU rules the EPC has a life of 10 years and if the property is sold quite often it could end up with an EPC every 1/2 years e.g. forces housing where people buy and sell very frequently. Conversely if you have a family who never move e.g. my family has lived in the same house for over 25 years ...
In other countries the EPC is not part of the selling process but is carried out in various ways by various people.
Exactly my point. I agree with everything you say and I am merely pointing out that the EPC was never part of the original HIP concept but HIPs were used as a vehicle to introduce it.
Because it does not exactly fit the EEC intentions of EPC retesting every 10 years, it may well have to be modified at some point in the future. Like your family I have been in my own home nearly 30 years now as have many neighbours. It's not uncommon to be a long-term occupier. Some families might inhabit a property for generations! This certainly does not fit with the EEC regulations without mandatory (non-sale) retesting yet, as you say, this is going to be an area of increasing concern.
This is just another instance of sloppy Ministerial handling of the whole HIPs affair.0 -
This is just another instance of sloppy Ministerial handling of the whole HIPs affair.
Theres a new minister now though right? Caroline Flint previously the health secretary and coincidentally also my local MP. Needless to say as a constituent I've made an appointment to see her
Happy to help with HIPs and EPCs0 -
Brilliant! Tell her to stand up for HIPs and not to just stand aside like Yvette did! She needs to attack vested interests , not crumble under their attack.chriserenity wrote: »Needless to say as a constituent I've made an appointment to see her
HIPs could potentially be the best thing ever to happen the property sales in England but they need a strong champion.
PS Off-topic, but while you're there, tell her to make offers legally binding thus stopping gazumping (or gazundering in the present market) at a stroke.
Best of luck!0 -
Hi there - can anyone tell me if a HIP is required for a private sale?
Thanx0 -
Hi there - can anyone tell me if a HIP is required for a private sale?
Thanx
Depends what you mean by a private sale. If you mean you're selling without an estate agent and are advertising the property to more than one person e.g. for sale boards, local paper ads, rightmove etc then yes you do need a HIP.
If by private sale you mean you're not advertising the property and only the actual buyer knows of the sale i.e. no marketing you will not need a HIP. An example of this would be you the homeowner are approached by a buyer (not a house buying company who matches you with a buyer - these sales DO need HIPs) and he offers to buy your house which isn't on the market. You agree and proceed with the sale.
Hope that makes sense. I have PMed you.Happy to help with HIPs and EPCs0 -
To the best of my knowledge first time buyers won't save any money as mortgage providers will require the buyers solicitor to conduct their own searches.
Why? This does seem to be a line that has been trotted out a lot, but just isn't true. I haven't been a great fan of HIPS but this is one of the weaker arguments that has come out against them.
Who sends the search off doesn't matter. Nearly all major lenders accept private search organisation searches backed by indemnity insurance. A few buyer's solcitors are being picky about them, but I haven't actually encountered one such solicitor yet.. Of course the local search in the HIP may get out of date (2-3 months) and need repeating for that reason. Usually it is possible to insure for a small fee to "validate" the search for a further period.
You could renew the drainage search, but I'm not sure why in practice, unless you have heard that some significant drainage works have taken place in the locality.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0
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