Important changes to HIPS from April 6 2009

As you may or may not be aware the rules are changing regarding Hips from the 6th April 2009, the main changes are:

1. The ending of temporary ‘First Day Marketing’ (FDM) rules, which allow homes to be marketed without a HIP providing a commitment, is made to get one within 28 days.

2. The inclusion of the PIQ in the pack.

The change to first day marketing means you will need to have the documents listed below in order to market the property, we expect most HIPS providers to be able to deliver these documents within 2-5 working days.

The main obstacle to First Day Marketing will be the sellers speed in completing the PIQ – The Property Information Questionnaire.  Minimum documents required to market a property are;

  • index
  • the new Property Information Questionnaire (PIQ)
  • Energy Performance Certificate (EPC) or a Predicted Energy Assessment (PEA)
  • sustainability information (for new homes inEnglandonly)
  • sale statement
  • evidence of title

If you are in any doubt or need any further information or clarification regarding these new regulations, speak to your estate agent who will be more than happy to advise.