View more on these topics

Cashing in on HIPs

From Tom Parker

I read with interest the Vox Pop section in Mortgage Strategy November 14, which published a number of
views on what will happen when Home Information Packs are introduced in 2007.

After exhibiting at the recent Mortgage Business Expo, I heard brokers’ points of view on this subject.

As a HIP technology provider we were inundated with interest from brokers relieved to hear they could become HIP providers by using our technology. The HIP initiative offers brokers a number of opportunities to offer a menu of services not only to retain customers but also to help attract new ones.

In the HIP economy brokers will work more closely with estate agents and surveyors, and so will be well placed as a first point of contact for consumers looking to sell their properties. There is certainly a market for brokers when HIPs are introduced and by acting now they can stake a claim.

At Quest we believe there is an opportunity for mortgage brokers to work closely with all links of the property transaction chain to provide HIP services and thereby create fresh revenue streams to their businesses. Brokers must finalise their HIP strategies soon to ensure they are ready for the June 1 2007 HIPs start date.


CML urges European Commission to make across-state business easier

The European Commission is holding a hearing in Brussels to listen to the reactions of the European mortgage industry and consumer representatives on proposals for mortgage market integration.The Council of Mortgage Lenders urges the commission to concentrate on measures that will make it easier to do business across different member states, not just on measures […]

Newcastle achieves FAST software award

Newcastle has become one of six financial services firms to achieve the platinum award of the FAST Standard for Software, ensuring the organisation is in control of its IT assets and legally compliant.Regular software audits ensure Newcastle has no illegal software on its PCs, and IT compliance demonstrates the organisation’s commitment to high standards. Newcastle […]

Woolwich reveals cost of servicing mortgages still at 18.6% in November

The monthly Woolwich mortgage affordability research shows the monthly cost of servicing mortgages has remained at 18.6% of borrowers’ household disposable income in November. Annually the increase is up by 0.1 of a percentage point from 18.5% in November 2004 to 18.6% in November 2005. The research shows average mortgage payments have increased slightly from […]

Advisers must master reversions

Sovereign Reversion has released its half-year results, saying financial advisers must learn about home reversions.

Now more than ever, we need to back the small developer

In the context of the current housing deficit, the latest housebuilding stats aren’t great. But what does doing better look like? The Department for Communities & Local Government published its latest figures at the end of August, which revealed that housebuilding starts in England rose 2 per cent in Q2 compared to the previous quarter […]


News and expert analysis straight to your inbox

Sign up