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DCLG will persevere with HIPs, says eConveyancer

eConveyancer says the publication of new Home Information Pack guidelines show the government’s intentions to forge ahead with the controversial legislation.

A consultation paper from the Department for Communities and Local Government focuses on the environmental benefits of HIPs and Energy Performance Certificates, and also outlines a number of proposals.

These include a requirement for local authorities to speed up the process of providing searches and leasehold documents, and a requirement for estate agents to include EPCs in property sales particulars.

The government is also proposing a scheme in which house sellers will be able, during a transitional period, to market their homes as soon as an EPC and key legal documents are in place and provided searches and relevant leasehold documents have been commissioned.

Interested parties have until February 21 to respond to the consultation paper.

Alan Dring, sales director of eConveyancer, says: “The publication of this consultation document confirms the government’s intention to forge ahead with its plans for the launch of HIPs on June 1 2007.

“It has placed great emphasis on the green credentials of EPCs and HIPs and clearly sees them as a key weapon in the war against climate change.

“If confirmation were needed that brokers need to start making preparations for the introduction of HIPs, then this is it.

“There are now only four months to go and those brokers who take no action will lose out on a real commercial opportunity to boost income during a year when both the housing and mortgage markets are expected to slow.”


PMPA hits out at lenders with poor IT links

The Professional Mortgage Packagers Alliance has attacked lenders that have failed to deliver in terms of technology and working with packagers. One sweeping rumour was that the PMPA was referring to edeus although this has been denied. Jon O’Brien, operations director at PMPA, says: “Some companies have been tight-lipped about their dealings with packagers. If […]

Just Retirement sees 55% increase in equity release business

Just Retirements business figures for the six months to December 31 2006 shows growth in equity release advances of 55% quarter-on-quarter.The company says equity release business has continued to demonstrate excellent growth. Mortgage advances have seen a substantial increase, with levels of new business quotation and application activity likely to lead to a continuing strong […]

Business up 45% at Heritable Bank

Heritable Bank has reported a 45% rise in mortgage business in its 2006 results. It has also declared a 40% increase in assets to £877m.

Equity release growth “promising”, says Pru

Prudential says the 19% increase in equity release business is a promising start to 2007.Ali Crossley, director for lifetime mortgages at Prudential, says: It is great to see that the level of new business in the equity release market has continued to grow over the last year. A 19% increase compared to the same time […]


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