In response to many years of complaints from property buyers and sellers that the current system is inefficient, slow and time consuming, the Government decided to introduce Home Information Packs (Hips).

From 1 August 2007 home owners (or whoever is selling the property on their behalf) must have a Hip ready when the property goes on the market. A copy of the pack is to be given to the potential purchaser on request.

• an energy efficiency assessment
• terms of sale
• evidence of title
• replies to standard preliminary enquiries made on behalf of buyers
• copies of any planning, listed building and building regulations consents and approvals
• for new properties, copies of warranties and guarantees for work carried out on the property
• replies to local searches

The Cost

The cost of preparing a pack for an average home was expected to be up to £1000, however, the government has recently decided the "key home condition report" will not be mandatory, so the cost could now be as low as £150.
 
Who is responsible for the pack preparation?

The person marketing the property will be responsible for ensuring the pack is available, this would normally be the seller's agent but could be a builder, property developer, solicitor or even the seller, if they are not using an agent.
 
How will this help?

The aim is to ensure that buyers and sellers are better prepared and have as much information as possible from the start, which in turn will speed up all the legalities of moving home, for example, faster mortgage offers and search replies. This should reduce the process time, which if delayed, can lead to "gazumping" and problems in chains.