From June 1 next year property owners in England and Wales or their agents will need to compile a home information pack when they market properties and a copy of that pack will need to be made available to prospective buyers when they ask for it.

The legislation also requires estate agents to belong to an approved redress scheme. With just a few minor exceptions, HIPs will apply to all property marketed in England and Wales.

Let's quickly recap on what the HIP must contain:

• Terms of sale
• Evidence of title
• Replies to standard preliminary inquiries made on behalf of buyers
• Copies of any planning, listed building and building regulations consents and approvals
• For new properties, copies of warranties and guarantees
• Any guarantees for work carried out on the property
• Replies to local searches
• A Home Condition Report (HCR) based on a professional survey of the property, including an energy efficiency assessment

And for leasehold properties: