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Hip Packs Explained

HIPS

HIP Packs explained by PROPERTY ADVICE BLOG:

Energy Performance Certificate  - This certificate reveals how energy efficient a property may be and includes useful recommendations on how to improve the property’s efficiency. Graded from A –G, each home is investigated on its energy use, fuel bills and environmental impact. One of the environmental considerations is the release of Carbon Dioxide on the atmosphere.
In general, a typical UK property will be banded between D and E. However there are a number of guidelines to help you improve your home in terms of fuel consumption, bills and the environment.

If you have a newly built home an Energy Performance Certificate should be issued when the property is complete. Those who are selling new homes should also provide a future forecast of the property’s energy performance.

Evidence of Title  - The Evidence of Title document provides evidence that the seller is the owner and has the right to sell the property. If the property is registered then the Land Registry should also include current official records relating to land ownership. Land Registry documents may include an official copy of the title plan, a property register, a charges register and a proprietorship register.

If there is a common-hold interest sale, official copies of the register and the title plan should be made public. Additional documents for common-hold property sales may also be required and should be provided by the Land Registry.

When it comes to selling unregistered land, the Land Registry should provide an official index map certificate or copies. These should be added to the evidence of title documents which outline the vendor’s right to sell.

Sale Statement  - This document provides basic property information such as:

•    The property address
•    The type of property on sale, ie: freehold, leasehold or common-hold
•    Information on whether the property is registered or not.
•    Information on whether the property is being sold with vacant possession.

Standard searches  - HIPS standard searches must include:

•    An official search certificate from a local authority or personal search company. This document will be provided once a search has been completed on the property relating to the local land charges register.
•    Local Enquiries Information. The local authority should outline proposals and planning decisions related to the land and surrounding roads.
•    The local water company or personal search company should provide details of a regulated search on the provision of drainage and water.

Leasehold and Common-hold Properties  - When it comes to leasehold or common-hold property sales there are some additional documents to look for. A copy of the lease is a must, however there are some other recommended documents too, such as:

•    Information on property regulations and amendment proposals that haven’t been included in the lease.
•    Property service charges from the last 36 months in the form of statements or summaries.
•    Up to date information on payment of service charges, insurance against damage, personal injury insurance and ground rent over the last 12 months.
•    Contact information for the current leaser or any other property managing agent.
•    A description of current work or proposals that will have an effect on the property. 

Common-hold documents required for HIPS include:

•    Provision of an official copy of the individual register and title plan for the common parts.
•    An official copy of the common-hold community statement
Although not a legal necessity, there are a number of other documents which are preferred, such as:
•    Regulations and rules which have not been included in the common-hold community statement and any amendments.
•    Requests for payments which relate to common-hold assessment, insurance and the reserve fund levy from the last 12 months.
•    Contact details of any individual appointed to manage the common-hold, or any proposed individuals.
•    A list of any ongoing or proposed works which may affect the common-hold.