The Introduction of Home Information Packs (HIPs)
The prospect of increased costs for developers to comply with the latest round of buildings legislation is beginning to have a significant impact on this sector of the market.
A rating against the Code for Sustainable Homes, which measures nine categories of sustainable design including energy, water and waste, is now required for all new homes. Properties which exceed the sustainable standards in existing Building Regulations will be awarded up to six stars. Those homes that have not been assessed against the Code will score a nil-rating.
Martin Duck, land development partner with Hampshire solicitors firm Moore Blatch said securing this rating can add several thousand pounds to the cost of building a new home at a time when developers are already facing a tough market.
“The certificate will rate every new home for sustainability and performance and will become a quality measure for developers to illustrate the environmental impact and likely running costs of their new home,’’ said Martin who works with a number of the south’s leading new homes developers.
“Currently building regulations govern the construction of new homes and provide the minimum standard to which new homes must be built. The code provides for improved standards in respect of its assessment criteria which have minimum requirements in a number of categories which must be achieved before a star can be awarded.’’
It is not compulsory for every new home to be built to this new code but changes introduced this month make it compulsory for every new home in England to have a rating against the code and for this information to form part of the Home Information Pack (HIP).
“This new rating has only just been introduced but we are already seeing clients who are reporting that this is having a significant impact on their business,’’ said Martin.
The Code is part of a package of measures aimed at improving the sustainability of new homes, which includes meeting the zero carbon target in 2016.
As it is compulsory for all properties to have Home Information Packs, it means you will not be able to put your property on the housing market without one. Due to these rules, the experts strongly suggest you engage the services of someone with extensive experience of residential property dealings to help put your Home Information Pack together. Solicitors are a very god bet to produce your Home Information Pack because, not only do they have an excellent knowledge of property law, but they will also be able get the correct information required and offer very competitive prices.
Within Home Information Packs you will generally find the following information:
Freehold Property:
- Index.
- Home Energy Performance Certificate.
- Sales Statement.
- Title Documents and plan.
- Local Authority Search.
- Drainage Search
Leasehold Property (as well as the above):
- The Lease.
- Details of the Landlord and Managing Agent together with management and financial information.
When choosing a company or solicitors to do your Home Information Pack you should consider a number of factors so you get the best deal. Considerations should be efficient Home Information Pack production, competitive price (look around) and make sure once it has been produced, you will own it outright, meaning you can take it with you should you decide to change Estate Agents.
So when you go to get your Home Information Pack produced make sure you get the best deal for your money and shop around.
About the Author: I am fairly new to the wonderful world of article writing, but have been a copywriter for 2 years. If anyone deems any of my articles good enough for them to add to their blog/website please put my name on it and a link to my website http://www.mooreblatch.com and use the anchor text ‘Hampshire Solicitor’.
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