My Conveyancing

Rolling Hips out to one and two-bed properties could find first-time buyers caught between a rock and a hard place as accessibility to the market could go off the scale.”

But the extension has been welcomed by the Association of Hip Providers (AHIPP).

“The independent research by Europe Economics dispels suggestions by RICS and NAEA that Hips are having a detrimental impact on the market place and “Hips are here to stay”

First time homebuyers will see their upfront costs drop and all home buyers will, for the first time, receive A-G green ratings for their properties which will help cut fuel bills and carbon emissions, with the roll out of Home Information Packs (HIPs) and Energy Performance Certificates (EPCs) announced today.

Buyers whose homes score poor energy ratings of F or G (currently around one-fifth of all homes) will receive an offer of a discount or free help with energy efficiency measures from the Green Homes Service which will be established, helping to save hundreds of pounds off fuel bills, as announced by the Prime Minister this week.

Sixty per cent of the market is already covered by HIPs. The Government has announced the rollout of HIPs and EPCs to the rest of the market from 14 December this year, as the criteria set out for roll out on 11 June have now been met.

House hunters will get detailed information about the energy efficiency of their home with a green rating of A-G, similar to consumer friendly fridge ratings, in an EPC.

The final stage of the roll out follows careful analysis of how HIPs and EPCs have been working in order to maintain their smooth introduction into the housing market.

The extension of HIPs to all properties will particularly benefit first time buyers through a reduction in their upfront costs by not having to pay for a pack, helping them in getting a foot on the housing ladder.

The packs are already beginning to bring benefits to consumers with average property search costs starting to fall with the new competition from HIPs – 85 local authorities have already reduced their charges by £30 on average.

The 12 weeks leading up to Christmas day have been revealed as some of the busiest of the year for those moving home in the UK.

While spring is usually regarded as the prime time to relocate, the run-up to the festive season has now been identified as a new boom period.

Some 22 per cent of all home moves take place during the period, with one in 12 homebuyers willing to move in December.

Those moving house over the period are also on top of their finances.

Some 53 per cent looking to move said it would not hinder their preparations for Christmas, while ten per cent had saved earlier in the year to prepare for the move.

Only one in ten said they had planned to cut back on spending to assist with moving house, while only two per cent said they would rely on credit cards to finance Christmas spending.

With so many people moving into their new homes during the run-up to Christmas it can feel like a rush to get the family settled and the new furniture ordered before December 25th.

It is very encouraging to see many people are planning ahead to budget for their moving costs and saving in advance to ensure it doesn’t have a big impact on their Christmas.

Clearly planning ahead, budgeting and saving are the key to a less stressful move.

There seem to be property news stories about this virtually every week, and many of them are conflicting. One thing is certain – prices are not growing as fast as they have been in the last year.

There are lots of regional variations in the rate of house price growth. But it’s important to realise that house prices are still growing… it’s the rate of growth that is slowing. That’s a clear distinction. It would be a different situation if house prices were actually falling.

Some experts think we are due for a house price correction in the near future, but the long-term growth will still be there.

HIPs were introduced for four bedroomed homes in August and extended to three bedroomed homes in September. Some people believe they have reduced the number of people speculatively putting their home on the market, just to see what they could get for it. And others believe some people are holding their property back to see if any further changes will happen.

In the long-term, it’s likely that people will get used to HIPs and just treat them as another part of the property buying process. This means any impact they are having on house supply now will probably be short-lived.

From 10 September, all homes in England and Wales with 3 or more bedrooms will need a Home Information Pack (HIP), which includes a home energy rating. The Pack includes an Energy Performance Certificate (EPC), containing advice on how to cut carbon emissions and fuel bills. Also included are documents such as a sale statement, searches and evidence of title.

As a home buyer and seller you should take note of the arrival of HIPs and be careful about the supplier you choose to provide your pack.

Now is the time to talk with Myconveyancing.com about being prepared Call Alison Williams on 01744 730933 0r, 0800 007 66 11 to discuss how we can provide you with your HIP.