HIPs benefiting consumers. Plus delay of first day marketing
Communities and Local Government news release – 8th May 2008
The Government today announced a package of measures to help ensure consumers are seeing the vital information in Home Information Packs and are receiving a higher standard of service in the home buying and selling process.
The new measures include: developing a new set of standards with industry on what consumers should expect from property professionals in the home buying and selling process; further building on the quality of information in the packs; working with industry to ensure that consumers are fully seeing and benefiting from the HIP, including the EPC, early in the process; extending until the end of the year the provisions enabling consumers to market their home as long as they have ordered and committed to pay for a HIP, and the provision requiring the lease to be included in the HIP for leasehold properties.
The latest figures on HIPs show that consumers are already benefiting from the introduction of Home Information Packs. More than 700,000 homes now have energy ratings as a result of HIPs, helping home owners to save money on their fuel bills and cut carbon emissions. Greater competition in the property searches market is also leading to reductions in costs with some local authorities reducing their search fees by up to £120.
This announcement also meant that there is a delay of first day marketing; this was originally scheduled for the 1st June 2008 and has now been delayed until 31st December 2008.
The provision for first day marketing allows a property to be marketed without a HIP as long as the required documents have been commissioned and paid for (or arrangements for payment made) and there is an expectation they will arrive within 28 days.
Full roll out of HIPs announced
Ministerial Statement by Yvette Cooper – 22nd November 2007
The Government set out their approach and criteria for phasing the implementation of Home Information Packs (HIPs) including Energy Performance Certificates on 11 June. Sixty per cent of the market is now covered by HIPs. And the criteria for roll out to the rest of the market have now been met. We will therefore complete the phased roll out by extending coverage to the rest of the market from 14 December.
First time buyers of one and two bedroom homes will be the main beneficiaries as they will now get important information about their new home for free. Information such as searches for which they would previously have had to pay will now be included in the HIP paid for by the seller, reducing the costs of the first step onto the property ladder.
But all householders will benefit from having detailed information about the energy efficiency of their home, and measures to save on their fuel bills and cut carbon emissions.
HIPs required for properties with 3 or more bedrooms
Communities and Local Government news release – 10th September 2007
The Government is today extending EPCs and HIPs to three bedroom homes so more buyers will get the same information to cut carbon emissions and reduce fuel bills.
The early findings come from a snapshot survey of energy assessors and EPCs provided since the launch of HIPs, which show average 4 bedroom homes are being rated 'E' and could typically save £180 on heating, £60 on lighting and £30 on hot water bills, a year.
The top 5 recommendations given by assessors for improving energy efficiency have been: cavity wall insulation, changing to low energy lighting, putting thermostatic valves on radiators, loft insulation, and double glazing.
The introduction HIPs is already starting to reduce costs and improve transparency in the housing market. More than 85 local authorities have reduced their search costs, in some cases by more than £100
HIPs to be introduced on a phased basis
Ministerial Statement by Yvette Cooper – 22nd May 2007
The Government is today announcing that we will be implementing Energy Performance Certificates (EPCs) and Home Information Packs (HIPs) from 1 August instead of 1 June. The Government has also reached an agreement with the Royal Institution of Chartered Surveyors (RICS) on their judicial review of Energy Performance Certificates.
The Judge, considering the application for Judicial Review by RICS, had issued an Order preventing EPC's from being included in HIPs from 1 June until a court had fully considered the RICs application.
We did not consider it to be acceptable or practical to delay the introduction of EPCs in this way.
We have always made clear greater transparency in the housing market and tackling climate change goes hand in hand. In addition, we have created a new energy assessor workforce - the majority of whom expect to start work in June.
Therefore HIPs and EPCs will be introduced on August 1, implemented on a phased basis. From August 1 packs - including energy performance certificates - will be required for the sale of four bedroom properties and larger. These are the properties which are the most energy inefficient. We will phase in packs for smaller properties as sufficient energy assessors become ready to start work.
For all the latest Home Information Pack news, visit the Communities and Local Government (CLG) website.
