HIP providers face mass cull

LMS is predicting massive consolidation in the Home Information Pack market with less than a dozen of the present 120 HIP firms still operating by June 2008.

Managing director Andy Knee made this stark prediction last week as LMS became the first firm in the market to launch a HIP offering. He anticipates LMS will be able to carve out a massive 30% stake in the market before the June 1 HIP implementation date by pre-selling HIPs to estate agents in blocks of 100.

The price of each HIP will be based on the cost of local authority searches but because LMS purchased 200,000 searches in advance it is able to keep the cost of each pack between 299 and 399.

LMS’ HIPs come packaged with Home Navigator, software powered by Microsoft Virtual Earth which uses satellite photos and bird’s eye imagery to allow buyers to zoom in on prospective properties.

Knee says: “We believe our HIPs and Home Navigator services, our competitive pricing, our robust systems and our customer support make us the market leader.”