Background to HIPs

HIPs are being introduced to improve the effectiveness and efficiency of the home buying and selling process as well as to reduce carbon emissions from homes. But why do we need them?

• 1 in 4 transactions takes 9 months or longer to complete
• It takes on average 10 days longer than in 1998 to move from offer agreed to exchange of contract
• 23% of buyers experience at least one failed transaction
• 27% of the UK's carbon emissions come from homes
• The average home owner could save around £300 in fuel bills by making their home more energy efficient

By restructuring the process with the introduction of HIPs, many of these problems will be reduced.

HIPs will

• assist in speeding up the buying and selling process
• ensure that sellers are serious before they put their house on the market
• help to speed up transaction times
• improve awareness of energy efficiency and help tackle climate change