Brokers have been warned that if they fail to prepare for Home Information Packs, then they must be prepared to fail once the legislation becomes mandatory in June 2007.
Speaking at the Mortgage Summit in Jerez on June 23, Alan Dring, sale director at e-Conveyancer, says that now is the time to start looking at the choices of HIP providers and get their strategies in place.
He adds: We are facing an evolution in the industry and its time to start thinking about decision you will have to make.
He points out that many clients from last year will be looking to buy their properties around the time that HIPs come into force.
He urges brokers to start thinking about how they can best serve their clients when it comes to both mortgages and HIPs, and start getting their customer education and marketing strategies in place now or risk getting left behind.