News
HIPs - now or never?
8 August 2007
There have been many twists and turns on the road to Home Information Packs (HIPs) and the latest amendments have caused as much confusion as clarity. Questions about ‘loopholes’ amidst the scepticism on the Government’s commitment have only added to the uncertainty.
During the transitional period (August to January), a HIP doesn’t have to be in place in order to market a property, the only requirement is for the pack to be commissioned. It is only when an Energy Performance Certificate (EPC) has been completed that the HIP contents must be compiled. Add to that the fact that during the transitional period, an EPC is only required at exchange of contracts.
Therefore, in theory, if a property is sold within 28 days, it could avoid having a HIP (subject to the agent putting a delay on the actual ordering of the components). It would only need an EPC prior to exchange as the HIP is only required for marketing a property.
Is the Government setting the stage to divorce EPCs from HIPs? After all, the EPC has been introduced in a completely separate regulation - the Energy Performance of Buildings (EPB) Regulations. With the EPC now linked to exchange of contract the Government could easily change their minds and abolish the HIP legislation and keep the EPC alive through the EPB Regulations.
Regardless of which way the wind blows, rest assured, movewithus is ready, as we were before, only this time for August 1st.
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