With the requirements of HIPs and the Energy Performance Certificate, self-build owners will be required to provide a much more in-depth analysis of everything to do with the build, such as planning documents, surveys and a list of building materials for use when it comes to compiling a HIP when they come to sell at a later date.
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Mary Riley, managing director of Advanced Flexible Self Build Mortgage Limited, commented: “As the HIP will go with the property, the vendor must have all the knowledge and must be able to provide information on the site, all the materials and all the relevant documentation. It is much easier to collate the information at the time of the build than having to find it five or six years down the line. I think there is a lot of burying heads in the sand over this and people need to be aware of their requirements with the HIP.”
Alan Dring, sales director at eConveyancer, believed self-builders were quite good at keeping information about the property and that there would not be too much upheaval once HIPs come in.
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“You do have to keep an eye on everything, but there is no greater emphasis because of HIPs, as much of the documentation – such as certificates – would be required to sell the property today anyway.”
Dominic Toller, director of marketing and new business for LMS, commented: “In my view, in the early days it will take some getting used to the new process, but it will only create minor issues. A lot of the information a client needs is acquired by the conveyancer at the time of purchasing land, so the conveyancer that acts for the client is in the best position to collect all the information that is needed.”
