123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Investing---Finance >> View Article

A Bird's Eye View Of Home Information Pack!

Profile Picture
By Author: Kirthy Shetty
Total Articles: 2542
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Before you rent out or sell a house, the first thing that is asked for in UK, is the Home information Pack also known as HIP. It involves a set of documents that provides the buyer with key information on the property and must be provided by the seller or the seller's agent. It is also considered an important marketing tool to promote your house and is definitely a legal requirement too.

These set of documents allows the buyers to see important information on the property at the start of the process, to get an idea of what the house comprises of and how much it's worth in the UK property market. In one way, a landlord or the seller in this case, provides all the information related to his house and averts any confusion which may other wise arise due to lack of information. These things can be set right in the beginning itself and avoid any delays and extra expense to both buyer and a seller. It gets clear on the side of the buyer where in he can't crib about not having provided with certain details, when every thing is clearly written in the document.

HIP contains official information, some are mandatory while ...
... others are optional. A landlord can opt to provide or opt out of it based on his convenience. Such HIP will also have Energy Performance Certificate as part of its content.

Compulsory items in the HIP are seen as below

These are the documents to be present compulsorily:

In case of Freehold properties
Index of Home Information Pack
Energy Performance Certificate (EPC)
Evidence of title
Your sales statement
sustainability information (required only for newly built homes)
Standard searches (local authority and drainage and water)
In case of Leasehold properties:
All the compulsory documents as seen above
And a copy of your lease

With more information upfront and the costs incurred in gathering and providing information such as searches transferred to the seller, first time buyers will find their first step onto the housing ladder a more affordable and more informed one. Your home pack information will also have a home condition report and mentions all the contents in the house. Important information to a buyer is that, if you are buying a property, just ask whoever is advertising it for sale for the Home Information Pack. This is usually an estate agent, but could be another business or individual. Such copies of Home information pack are given to you free of charge. However, they may make a reasonable charge to cover the costs of copying and posting it to you.

Get all your tips related to HIP from: Home Information Packs

Total Views: 320Word Count: 458See All articles From Author

Add Comment

Investing / Finance Articles

1. Why Wealth Management Is Essential For Young Professionals
Author: Adyanth Wealth

2. Boost Your Retirement Savings With These Superannuation Strategies
Author: Daniel Stewart

3. Outside Ir35 Calculator
Author: Dhara Tuvar

4. Scalable Mt5 Greylabel Solutions For Forex Brokers
Author: MT5 Greylabel Provider

5. How Credit Cards Can Prevent Financial Stress During Personal Crises?
Author: Saloni Mehta

6. Role Of Wealth Management Companies In Mutual Funds
Author: Saloni Mehta

7. Best Passive Income Ideas To Make Money Through Investments
Author: Adyanth Wealth

8. Gst Registration In Bangalore
Author: mwseo

9. Ashneer Grover Net Worth, Investments, Portfolio, And Bharatpe Journey
Author: Planify

10. Why Is The Indian Stock Market Struggling?
Author: Indira Securities

11. Common Investment Mistakes And How To Avoid Them
Author: Adyanth Wealth

12. How Term Loans Can Help Retail Stores Manage Seasonal Inventory Needs
Author: Bad Credit Business Loans

13. How Lines Of Credit Can Help Medical Professionals Manage Operating Costs
Author: Bad Credit Business Loans

14. Getting The Right Loan With Realloans
Author: Sukhjeet Singh

15. Top Reasons Why The Indian Stock Market Is Fluctuating So Much
Author: rickyponting

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: