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Home information packs

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  • Home information packs

    Home Information packs Compulsory from June 2007. However what is not compulsory or required in the pack is the “Home condition report.”
    The only new cost in the buying and selling process is that sellers now have to pay for an Energy Performance Certificate.

    Cost of £90 to £150 maximum, any more you are being overcharged..

    The required documents are:
    Home information index

    Energy Performance Certificate, no more than £120 Energy performance

    Sale statement

    Evidence of title example.
    Local and drainage-&-water searches

    A drainage and water search can be requested from your water supplier.
    Additional information for leasehold and commonhold sales, where appropriate.

    You can also include a Home contents document in the pack, to layout what is incuded and whats not.

    __________________________________________________ ____

    Should the pack include a Home Condition Report?

    A Home Condition Report is not compulsory and is in fact useless, as mortgage lenders will not accept the report as a survey, and will still require there own..

    So do not waste money geting one.

    The Council of Mortgage Lenders, having consulted their members, say that Home condition report won’t be enough in order for people to get a mortgage, because they will be asking for an additional report -

    The home condition report (HCR), which provides information on the condition of a property up front to buyers, will no longer be a compulsory part of the packs from the start.

    They are still intended to become a mandatory part of the packs, but their introduction will be on a “market-led” basis, the government said.

    The home condition report – a form of mini survey - was in part intended to help mortgage lenders undertake automated valuations, and thus eliminate the need for a physical inspection of the property.

    But research by the Council of Mortgage Lenders shows that most lenders still expect to be carrying out their own inspections five years after the introduction of the packs on June 1st 2007.

    Kind regards

    Last edited by brian; 12-04-2007, 10:47 AM. Reason: spell