Home Information Packs (HIPS)

FOLLOWING THE 2010 GENERAL ELECTION, THE COALITION GOVERNMENT MADE A DECISION TO SUSPEND HOME INFORMATION PACKS (HIPS) AND AT THIS MOMENT IN TIME WE AWAIT A DECISION AS TO WHETHER THEY WILL BE RESURRECTED OR CANCELLED FOR GOOD

HIPS have been introduced by the Government as part of their policy to try and make the house purchasing process easier.  It is now mandatory under the law that vendors of all properties have a HIP in place prior to marketing their property.  The HIP contains an energy assessment report, searches conducted with the Local Authority and other agencies.  These searches determine what implications there may be for the property.  The HIP also contains information regarding the legal staus of the property to determine whether there are any issues which might affect the future saleability of the property.

The benefit to purchasers is the supply by the vendor of this background and supporting information about the property they propose to purchase can be both important and illuminating.  It can therefore provide significant indicators to purchasers which they may wish to take into account before making an offer to buy a property.  In the past many property purchasers have fallen down once background information has come to light.

Your Mortgage Limited can arrange HIPS on behalf of vendors and at the same time discuss clients and potential client's mortgage needs in respect of their new property purchase where relevant if they are moving property.  Please contact the Knaresborough Office on 01423 868899 to arrange your HIP as and when appropriate.