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.