News
March 2008
MCCARTHY & STONE ALLIES WITH HOME INFORMATION PACK PROVIDER TO ENHANCE CUSTOMER PROPOSITION
McCarthy & Stone, the UK’s largest retirement builder has formed an exclusive partnership with OpenBook, a leading provider of Home Information Packs (HIPs).
The alliance will see OpenBook become the HIP supplier for the dependent properties of purchasers of a McCarthy & Stone retirement apartment, as part of an assisted sale programme to reduce the stress of moving home for retirees.
OpenBook will provide the key information on a property that is required in the pack, including terms of sale, evidence of title, local searches and an energy performance certificate (EPC).
Having provided ‘sellers packs’, a version of HIPs, to the property industry for over ten years, OpenBook has a unique insight into the industry and its experience enables them to offer the most streamlined and efficient service.
Gerard Buckley, Chief Executive of OpenBook, comments: “We are delighted to be working with McCarthy & Stone as their exclusive HIP provider. Because of our pedigree in the industry we can deliver a tailored, comprehensive service, supporting the needs of McCarthy and Stone and their clients.”
Dave Vallis, Marketing Director of McCarthy & Stone comments: “The additional service that our partnership with OpenBook allows us to offer greatly enhances our consumer proposition. We value OpenBook’s experience in the HIP field. Such alliances within the property industry are very important and contribute to the wider picture, streamlining the homebuying and selling process for everyone.”
March 2008
Housebuilder
Gerard Buckley, chief executive of HIP provider OpenBook, looks at the challenges that lie ahead for housebuilders when Energy Performance Certificates (EPCs) become compulsory for all new dwellings on 6 April.
Although initially the subject of some controversy across the property industry, Home Information Packs were finally rolled out to all existing housing stock on 14 December. A uniform requirement for the whole of the property chain, the packs should now be able to achieve their intended benefits, improving the transparency and efficiency of the homebuying process by providing important information upfront to the parties that need it.
To date, new homes built under the most recent Building Regulations have been entirely exempt from the HIP legislation. However, as of 6 April, Energy Performance Certificates are set to become compulsory on construction for all new dwellings. Consequently, housebuilders will need to know how this affects them, what challenges they may be faced with and how best to prepare to ensure that the roll out runs smoothly.
HIP providers are experts in this field and will be able to help with the new processes required. Several providers with a pedigree in the business have been producing a form of sellers packs for the industry for some years and are now in the position to provide a bespoke service to housebuilders and to guide them through the EPC procedure.
The first hurdle will be determining which developments actually fall under the new regulations and what type of EPC is needed. For example, if a property is being marketed off plan, a Predicted Energy Assessment (PEA) will be needed in place of a full EPC. However, this should be replaced by a full EPC if the home is completed whilst still on the market. With several false starts and amendments being made to the HIP legislation along the way, some confusion as to where everyone stands is understandable.
Housebuilders should not be daunted, however. The requirements can be broken down into a number of easy to follow steps explaining exactly which procedure the developer should follow for a specific site and HIP providers are ideally placed to help with this.
Looking at the wider sales process for new homes where HIPs are required, housebuilders should be aware that Local Authority property and land searches can be commissioned for the entire site as opposed to each individual property, as is the case with existing stock. This is a distinct advantage as it has considerable cost and time saving implications.
A potential issue that may cause difficulties following the introduction of HIPs for new builds is that new developments are not assigned postcodes at the outset. It is therefore difficult to carry out a search or send an Energy Assessor to an address with no postcode. However, these pitfalls can now be avoided by using mapping software at the HIP provider facility centre and then letting the search company and energy assessor have copies of the map. This way searches and EPCs can be completed more rapidly by accurately identifying the site without further recourse or sending the Assessors to the wrong site.
With these changes afoot, therefore, housebuilders should certainly be looking to ease the transition by forming alliances with HIP providers who are fully equipped to assist. At OpenBook we believe that such partnerships are the key to transforming the efficiency of the homebuying and selling process and expect this to become a growing trend over the next few months, with networks extending across the various property professions.
So, while the introduction of the EPC and HIP for new homes will inevitably involve some adaptation, developers should look upon the change as an opportunity, allowing them to promote the superior energy efficiency of their buildings compared to existing stock. Homeowners are becoming increasingly concerned about the green credentials of their homes and a property that produces lower carbon emissions, uses less energy to run and saves money in the process is definitely worth publicising.
Legislation never stands still. New homes are also due to be rated against the Code for Sustainable Homes in May. Housebuilders are undoubtedly facing a changing landscape, but seeking advice from the appropriate sources will ensure they are prepared for the next stages. The property industry needs to work together if the Government’s latest initiatives are to be a success, bringing about the intended benefits for the industry, the consumer and, increasingly, the environment.
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Vebra Alliance
December 2007
Leaseholds explained
June 2007
Draft Regulations for HIPs