What is an Energy Performance Certificate (EPC)? |
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In simple terms, an Energy Performance Certificate (EPC) is a record of the actual and potential energy saving aspects of a particular property. The property is assessed using the UK's Standard Assessment Procedure. It's performance is rated in terms of energy use per sq metre of floor area. Energy efficiency is based on fuel costs and environmental impact based on carbon dioxide (CO 2) emissions. |
Energy Efficiency Rating is based on an A-G scale:
• Letter rating A is the best and goes up to 100.
• Letter rating G is the worst and can go down as low as 1.
Environmental (CO 2) Impact Rating is based on an A-G scale (100-1):
• Number rating of 100 is the best.
• Number rating of 1 is worst.
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What are Home Information Packs (HIP)? |
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| Home Information Packs are a collection of documents which all people selling houses must have in place prior to selling their properties. A HIP will include the following: |
• Terms of sale.
• Evidence of ownership.
• Replies to standard preliminary questions made by buyers.
• Copies of any planning, listed building and building regulations, consents and approvals.
• For new properties, copies of warranties and guarantees.
• Any guarantee for work carried out on property.
• Replies to searches made at the local authority.
• Home Condition Report or Survey (if applicable) . |
| There are a number of reasons why Home Information Packs have been introduced since 1st August: |
• Reducing disappointments for sellers - Sellers will know that buyers are making informed decisions about properties, reducing the likelihood of surprises coming up later in the process and delaying the sale.
• Fewer nasty surprises for buyers - Buyers will have the information they need before deciding to buy a home. This means they're less likely to discover nasty surprises after a sale has been agreed.
• Sale success rates should improve - At the moment around a quarter of property sales fail after terms have been agreed. HIPs should help to lower this figure.
• The cost of failed transactions should fall - Failed transactions currently cost consumers millions of pounds a week. HIPs should bring these costs down.
• Transactions should be completed faster - Under the current system, UK transactions take on average twice as long as European ones. HIPs should speed things up.
• The home buying process will be simpler for first time buyers. |
| From 10th September 2007 all homes with 3 or more bedrooms will require a Home Information Pack to be provided to prospective buyers when marketed for sale. |
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