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Home Condition Reports have been introduced in the UK housing market to provide an objective and comprehensive report on the physical condition of marketed properties.
At present, the number of property transactions which fall between the offer of acceptance and the exchange of contract often occurs because of survey related problems. This is why the Government has created HCRs.
HCRs describe the general condition of the property, taking into account its age, style (character), location, energy efficiency and any problems/defects which might require attention.
The benefits of this report are great, as the HCR consist of accurate and current information and can be used for legal purpose by:
- Home Buyers
- Home Sellers
- Mortgage Lenders
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Benefits of HCRs:
- A property with an HCR marketed will be more likely to be sold than a property without one.
- Sellers who provide an HCR will be aware of any damage to the property which might affect its value. Therefore they can choose to carry out repair work or obtain quotes prior to marketing.
- Buyers are able to refer to HCRs and minimise the possibility of being faced with unexpected repair bills.
- Lenders benefit as they will be able to make informed valuations, reducing the need to repeat a detailed on-site inspection at the buyer's expense.
What the HCR consist of :
The HCR is divided in to 8 sections, A to G, with each element examined and given a condition rating and statement
| Section |
Information provided |
| A |
Report content
Definitions of the conditions ratings |
| B |
General information about the property |
| C |
Solicitor information
Health and safety risks and other potential risks e.g. flooding. |
| D |
Exterior aspects e.g. the condition of chimneys, gutters, exterior walls, cladding. |
| E |
Internal aspects e.g. internal walls, roof structure, flooring, internal woodwork. |
| F |
Visual inspection of services e.g. gas, electricity, heating, water and drainage. |
| G |
Grounds and outbuildings e.g. garages, sheds, workshops, patio areas etc. |
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