View more on these topics

HIPs fallout is predictable but intriguing

I love this industry, it’s like a real-life soap opera. Who’s doing what with whom? Who said this or that and why did they say it? Do they know what we already know and does he know what she should know but doesn’t know yet?

Actually flogging financial services might be fraught with angst these days but writing about it is like you’ve discovered sex, lager and rock ‘n’ roll all on the same day – every day. Hedonistic pleasure and debauchery is sating me. I love it.

In the tumultuous aftermath of the U-turn on Home Condition Reports letters to ministers and postulating pundits can be found flying about pontificating in all directions. But the only surprise in all this is that there should have been any surprise. What we’re now going through was as predictable as night following day.

But a couple of things intrigue me. One is the whingeing from the home inspector lobby and the other is the claims being made in respect of the energy reports which are being pathetically wafted about as a sop to the home inspector’s indignation.

From the moment Home Information Packs were mooted, rational and sensible industry voices questioned their viability. Ministers consulted, committees were formed and forums were facilitated. In short, all facets of the affected industries were invited to comment – before these comments were completely ignored and the government pressed forward with what John Prescott and the Consumers’ Association said they wanted.

But the Tories paid attention. They were quick to identify the proposals as unnecessary and unworkable and promised to scrap HIPs minute they came to office.

Why would you invest about 7,000 to train to do a job that the informed world had so little faith in? And if you were foolhardy enough to press ahead with such an uncertain venture why should you expect compensation for the punt you took? Perhaps because this is how the world is, with nobody taking responsibility for their actions, no matter how stupid they are. As luck would have it, there might still be a role – providing energy reports. Not so sexy, but hey, c’est la guerre, n’est ce pas?

And have you seen what’s being predicted for these energy reports? They will work to the detriment of properties with poor energy efficiency ratings which will consequently be damned to lower prices or worse, remain unsold forever. As in “I admire your thatched, mullion-windowed, wattle and daub Cotswold cottage of immense character and charm but I must have this high-density Wimpey-built, mid-terrace matchbox because the utility bills will be so much cheaper.”

The lunatics have taken over the asylum (oops, sorry – politically incorrect). God give me strength.


Edeus tipped to launch 650 deals on sourcing systems

It is hotly tipped that edeus will have 650 products that will all sit on both sourcing systems when the lender launches on September 14. Mystery still surrounds the details of these products, but one source says edeus is expected to have a whopping 650 products. Martin Reynolds, director of corporate accounts at the lender, […]

Coventry reports 385m increase in mortgages and loans

The Coventry increased its mortgages and other loans by 385m its interim results for the first half of 2006 reveal.Other highlights include a growth of 4.3% in assets for the six months, which now exceeds 11.5m. Growth in savings balances were up 4.9% to 7.8bn, and profit before tax was up 13% over the same […]

Competitors join REIT awareness group

Thirty competitors in the commercial property and financial services industries have joined The REITs and Quoted Property Group to increase awareness of Real Estate Investment Trusts and quoted property investment.To achieve their aim an internet portal and supporting publicity campaign, called Reita, have been created as an impartial source of expert information on quoted property […]

The Money Centre responds to interest rate rise

Lynsey Sweales, marketing and PR director at The Money Centre, says that hopefully brokers will have prepared for the interest rate rise.She says: Investors with a good broker should hopefully be supported by their brokers forward planning for such a situation arising. At The Money Centre we always have plans in place to make any […]

Health Shield

Product guide — health cash plans to suit all shapes and sizes

This guide, called ‘Health cash plans to suit all shapes and sizes’, provides information on Health Shield’s standard and tailored cash plans, which are designed to satisfy all business and employee needs. Each scheme can be offered on a voluntary, company-sponsored or flexible-benefits basis.


News and expert analysis straight to your inbox

Sign up