Hipstar may take 10% of the HIPs market

Richard Griffiths, chief executive of Network Data Holdings, says subsidiary Hipstar will take at least 10% market share when Home Information Packs become compulsory later this year.

Speaking last week at the group’s sales conference at the posh Celtic Manor resort in Newport, Wales, Griffiths told an audience of nearly 200 Network Data appointed representatives that the future for the group was looking brighter than ever.

Griffiths estimates that Hipstar, headed by Stephen Maskens, will be producing some 200,000 HIPs per year out of a predicted total market size of two million.

He says: “I am more than happy with the progress we have made since our flotation last year and I’m more than confident that our new chief executive, Alex Cotton, will do a better job than I have done for the past two years.

“My role now is to oversee the management of the four companies within the group. We know who our competitors are and we know that we will be a front runner.”

As well as the network which includes mortgageLink and Hipstar, Network Data Holdings also comprises Network Surveyors headed by Paul Wildman and Network Conveyancing headed by Chris Poulton.

Alex Cotton, chief executive of Network Data, says: “The support that we’ve received from our 42 sponsors for this conference goes to show the strength of support our network has in the marketplace.”

Viki Springall, head of marketing and tipped to be the next marketing director, adds: “This is the second conference we have held at Celtic Manor and Griffiths has set out our stall to our members yet again concerning what we can and hope to achieve over the next 12 months.”

Alex Dean, mortgage adviser with Sussex-based High Horse Financial Services, says: “Every now and again we all need a bit of a wake-up call. It’s not often that you come to an event like this and go away brimming with enthusiasm about what you do.”