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    Are all HIPs equal?

    I'm looking to get a HIP for a property purchase. There's loads of ads on Google etc.

    Are all HIPS equal?

    18 Comments

    Banned

    In what respect

    They all follow a standard laid down format ...................So Yes

    they are all meant to contain the same essential info-would seek a reccomendation from your lawyer or estate agent tho rather than google.

    They're all equal in the fact that they're a useless waste of time/money.

    Banned

    Shengis;6039859

    They're all equal in the fact that they're a useless waste of time/money.



    I totally agree.

    What another crazy thing this government has introduced.

    Supermod

    What is it you would like to know? Also, you dont need a HIP for a property purchase. You need a HIP if you are selling.

    Original Poster

    It's v poor indeed.

    Some have quoted me near £300 and some £200. If it's all the same then the cheaper will do

    Currently looking at ]http//hi…197 and ]http//ww…htm

    Has anyone got any experieces of them?

    Original Poster

    magicjay1986;6040014

    What is it you would like to know? Also, you dont need a HIP for a … What is it you would like to know? Also, you dont need a HIP for a property purchase. You need a HIP if you are selling.



    Thanks I'm looking at selling only.

    The reason for the question, I saw a web site stating a price for a HIP with the service including "recorded on the Land Registry", they also gave an option "not to record on the Land registry". Interestingly that recording ont he LR was cheaper.

    Whats this all about?:thinking:

    Supermod

    soled73;6040020

    It's v poor indeed.Some have quoted me near £300 and some £200. If it's a … It's v poor indeed.Some have quoted me near £300 and some £200. If it's all the same then the cheaper will do Currently looking at ]http://hipsvault.rtrk.co.uk/?scid=12815&kw=817197 and ]http://www.fridaysmove.com/freehip.htmHas anyone got any experieces of them?



    £200 is very reasonable seeing as they contain many searches which the solicitor is not able to carry out themselves. They would have to pay the local authority and water provider.

    Components of a HIP:

    Energy Performance Certificate
    Local Authority Search
    Water & Drainage Search
    Office Copies and Title Plan
    Index and Sale Statement

    Supermod

    soled73;6040051

    Thanks I'm looking at selling only.The reason for the question, I saw a … Thanks I'm looking at selling only.The reason for the question, I saw a web site stating a price for a HIP with the service including "recorded on the Land Registry", they also gave an option "not to record on the Land registry". Interestingly that recording ont he LR was cheaper.Whats this all about?:thinking:



    I guess they are referring to the actual registration of your property. Following the Land Registration Act all properties need to be registered at the local land registry once there has been a change in ownership, charge, restriction etc. It is cheaper for the provider to prove good title (you as an owner) if your property has already been recorded at the land registry and you have a Title Number.

    Therefore, if your property ISNT registered at the land registry there is more work for a HIP provider to carry out resulting in you paying them more money.

    It has nothing to do with registering your actual Home Information Pack with the land registry.

    Banned

    Shengis;6039859

    They're all equal in the fact that they're a useless waste of time/money.


    +1

    just a stupid government plan to raise more money via vat and cut employment by having more useless jobs


    BTW, OP. You dont get involved with a HIP for a property purchase, thats the sellers job.

    You must get a survey as HIPS are worthless.

    also, I believe a HIP is only valid for 6 months so you have to keep paying for one if your sale takes a long time

    Supermod

    csiman;6040487

    +1just a stupid government plan to raise more money via vat and cut … +1just a stupid government plan to raise more money via vat and cut employment by having more useless jobsBTW, OP. You dont get involved with a HIP for a property purchase, thats the sellers job.You must get a survey as HIPS are worthless.also, I believe a HIP is only valid for 6 months so you have to keep paying for one if your sale takes a long time



    No. The different components have their own expiry date. The energy performance certificate is valid for 1 year. The local authority and water searches are valid for 3 months (but you can either ask your mortgage company if they are happy with this or obtain an indemnity policy to cover anything which the search hasnt detailed).

    Also, your comments about getting a survey as HIPS are worthless is incredibly strange. They are not associated to eachother whatsoever. One of them details the structural soundness and any potential or past problems with the house and the other details how environmentally friendly your property is, whether it is connected to mains water/local roads adopted and who actually owns the property.

    Banned

    magicjay1986;6040572

    No. The different components have their own expiry date. The energy … No. The different components have their own expiry date. The energy performance certificate is valid for 1 year. The local authority and water searches are valid for 3 months (but you can either ask your mortgage company if they are happy with this or obtain an indemnity policy to cover anything which the search hasnt detailed). Also, your comments about getting a survey as HIPS are worthless is incredibly strange. They are not associated to eachother whatsoever. One of them details the structural soundness and any potential or past problems with the house and the other details how environmentally friendly your property is, whether it is connected to mains water/local roads adopted and who actually owns the property.


    I've seen some people think that a HIP is all they need hence why I mentioned it.

    So with local searches only being valid for 3 months, most of the time you're gonna need these refreshed as part of a survey unless you agree a price and get to exchange within 3 months of the hip date (very unlikely) :thumbsup:

    Supermod

    csiman;6040638

    I've seen some people think that a HIP is all they need hence why I … I've seen some people think that a HIP is all they need hence why I mentioned it.So with local searches only being valid for 3 months, most of the time you're gonna need these refreshed as part of a survey unless you agree a price and get to exchange within 3 months of the hip date (very unlikely) :thumbsup:



    Local searches are in no way, shape or form connected to a survey. If it takes more than 3 months to negotiate a sale and get to exchange of contracts you can pay Norwich Union to cover any potential problems. This usually costs about £19.20. If you do not want to pay that then you need to write to your lender and tell them how old the search is and it is then entirely up to them whether they proceed with the current search or they will ask you to carry out a new search. If the lender says you need a new search then you cannot obtain the indemnity policy so you need to be really careful.

    Jumpingphil;6042115

    +1Have you got a moving date yet Shengis?I'm still waiting but am … +1Have you got a moving date yet Shengis?I'm still waiting but am expecting it to be within the next month.



    Hopefully exchanging contracts this week. So probably a years time :lol:

    magicjay1986;6040745

    If the lender says you need a new search then you cannot obtain the … If the lender says you need a new search then you cannot obtain the indemnity policy so you need to be really careful.



    From what I can see the majority of lenders won't acknowledge hips and you have to do it all again from the start. This is from a buyers pov. So the seller has just wasted £x on a useless (but pretty) energy efficiency graph :lol:

    Supermod

    Shengis;6042169

    From what I can see the majority of lenders won't acknowledge hips and … From what I can see the majority of lenders won't acknowledge hips and you have to do it all again from the start. This is from a buyers pov. So the seller has just wasted £x on a useless (but pretty) energy efficiency graph :lol:



    A condition of EVERY offer where there is a substantial amount of lending is that the solicitor/conveyancer carry out searches for the benefit of the lender. Believe me, a lender would definitely acknowledge the fact that you dont have a local authority search. They want a local authority search and a water search as standard. Some lenders even insist on an Environmental Search and some even persist on asking for a Chancel Check.

    I have known lenders sue solicitors who have not carried out a Local Authority search.

    Lenders do not care about energy performance certificates. They never have and they never will. This was European legislation which was forced upon our government and they decided to chuck this in to a pack which is our Home Information Pack.

    magicjay1986;6045220

    A condition of EVERY offer where there is a substantial amount of lending … A condition of EVERY offer where there is a substantial amount of lending is that the solicitor/conveyancer carry out searches for the benefit of the lender. Believe me, a lender would definitely acknowledge the fact that you dont have a local authority search. They want a local authority search and a water search as standard. Some lenders even insist on an Environmental Search and some even persist on asking for a Chancel Check.I have known lenders sue solicitors who have not carried out a Local Authority search. Lenders do not care about energy performance certificates. They never have and they never will. This was European legislation which was forced upon our government and they decided to chuck this in to a pack which is our Home Information Pack.



    So the bottom line. Get the cheapest as it's of no benefit to anybody but the compiler of the information. It's a shame really as if it worked as it should it would save a lot of time and money all round.

    Supermod

    Shengis;6045538

    So the bottom line. Get the cheapest as it's of no benefit to anybody but … So the bottom line. Get the cheapest as it's of no benefit to anybody but the compiler of the information. It's a shame really as if it worked as it should it would save a lot of time and money all round.



    It would save a lot of time in the process but at the moment if people are looking to sell the main delay is going to actually be finding a buyer as the energy performance certificate is the only part of the HIP which needs to be carried out before you can actively market the property.

    The aim of the energy performance certificate was for people to see how they can go about making their home more efficient and to also let buyers know. Unless you are 1 and 1 then you arebt going to bother following any of their guidelines.
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