Energy Performance Certificate
Energy Performance Certificate
Energy Performance Certificate
Home Information Packs (HIPs) are a set of documents which provide potential home buyers with key information on the property they are interested in; this official information must be provided by the seller or the seller's agent. The general purpose of HIPs was to let buyers see important information about the property at the start of the buying process free of charge. This was a legal requirement and therefore, it was not legally possible to market your house without a HIP. In addition the HIPs eliminated any chance of buyers becoming aware of any problems or faults with a property at the end of the process. The advantage of using Home Information Packs benefited both the buyer and the seller; it reduced delays and extra expenses, and aimed to speed up the overall house buying process.
As of 21st May 2010, the Government suspended the use of Home Information Packs with immediate effect. The Secretary of State took sudden action in order to avoid a slump in the already deteriorating housing market, That's why I am taking emergency action to suspend the HIP, bringing down the cost of selling a home and removing unnecessary regulation from the home buying process.' The abolition of HIPs seems to be a reassurance tactic set by the Government, to put a confidence back into people who have wanted, or thought about selling their home, but delayed the process due to the high cost and unnecessary hassle.
HIPs were preventing sellers putting their homes on the market because they had to find the extra money, just to cover the cost of the packs. The added cost was putting the housing market under considerable strain. The Governments incentive of Home Information Packs was initially put in place to speed up the selling process of a house; nevertheless the incentive was actually having a reverse effect.
A number of Estate Agents contested that the cost of providing these packs normally cost around 300, and this was increasingly deterring owners from putting their house on the market, unless they were confident of a sale. They also claimed it was slowing down the recovery of the housing market.
On the other hand, in light of the negative factors surrounding Home Information Packs, the Government is determined to help people reduce their energy bills, improve our energy security and tackle climate change, by increasing the energy efficiency of their homes. To take action on this pledge, the Government has emphasised that the Energy Performance Certificate is still compulsory for the buying or selling of a property. An Energy Performance Certificate (EPC) is a smaller and less expensive element of a Home Information Pack, and is valid for ten years. The Certificate ranks the energy efficiency of a home on an A G scale, and all homes bought, sold or rented require one.
Sellers need to be aware that the warranting of an EPC is essential before marketing a property. Although if the certificate is delayed for any reason, the law is slightly relaxed, in comparison to the strict obligation of the HIPs, and can be produced within 28 days of the property actually going on the market. An advantage of the EPC is that it allows buyers to make informed decisions on the energy costs of their new home, which is a clear financial benefit.
The Government are currently reviewing how an EPC can play its part in the new drive for a low carbon and eco-friendly economy. Statistics have shown that carbon dioxide significantly contributes to climate change, and around 27 per cent of the UK's carbon dioxide emissions come from domestic homes. Therefore the Government want to stress to sellers the importance of requiring an Energy Performance Certificate as it effectively promotes a cleaner and greener energy use.
If you are still uncertain as to where to purchase the compulsory Energy Performance Certificate for your home, or you need more information on the significant benefits of the EPC, Rowlinsons Solicitors based in Cheshire can assist you with this. The Cheshire Solicitors firm can offer you expert legal advice on the matter, providing recommendations as to how the energy performance of a property could be improved. Rowlinsons provide Residential EPCs for housing property and Commercial EPCs for Businesses. Arrange an appointment today for a beneficial free 30 minute consultation, because by making your home more energy efficient, you are not only saving money on your energy bills, but also contributing to the amount of C02 released into the environment being decreased.
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