Tuesday, May 8, 2007
Category:
Home Improvements
In anticipation of the launch date for the Home Information Pack (HIP) on December 31, Zurich Building Guarantee, Zurich’s direct new home warranties arm has launched the first online homeowner Log Book.
It has been delivered in association with Property Log Book, a leading provider of web-based solutions to property professionals. HIP compliant, the Zurich log book enables both developers and homeowners to capture, store and retrieve essential information about their properties. The service is given to developers free of charge, and it can also be passed on to the homeowners as part of their new homes package if desired, above what must be provided.
There are many benefits to the new system because as well as helping developers comply with HIP requirements, the solution will significantly ease any administrative burdens. Developers will only need to provide the information once, it is held under a secure password on the internet. The password is then given to prospective buyers, enhancing customer service and cutting the time and cost of producing a large file of papers for each.
The Zurich Log Book is also beneficial for the conveyancing process as it contains essential information for solicitors, selling agents and surveyors regarding the condition of a property and other useful material. For the first year, when sales complete, buyers will be able to change their password and have access to update the data. After the first year the data will be held as read only in perpetuity, but homeowners can purchase full access that will enable changes to be made direct from the Property Log Book Company.
Martin Horsler, Head of Zurich Building Guarantee said: ‘The house buying and selling process can be demanding and new legislation will involve added responsibility and cost for all parties. The inclusion of the Zurich Log Book as standard is just one way we are working with developers to make things simpler for them, and their customers in turn, in light of these changes. As this solution, once set up, belongs to and remains with the property forever it has a wide variety of benefits for the owner – from a means of notifying claims under their insurance policy through to helping them compile a new HIP when they come to sell.’
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Those thinking of moving home, could consider improving what they already have with a secured loan as an alternative to upping sticks. Motivations for moving include wanting extra bedrooms or a bigger space for entertaining and relaxing. One of many options to finance home improvements, a secured loan can be used to pay for space adding projects like extensions or loft conversions which allow for extra bedrooms. Once building projects are complete, homeowners may also consider improving their exterior and gardens with funds from their secured loan.
Secured loans can be repaid over a term to suit the borrower, from 5 to 25 years.
