However those involved in the implementation of the packs believe progress has been made in educating brokers as to the likely impact the documents will have on the broker market.
Of those questioned in the survey, 52 per cent said they felt that HIPs would open up new marketing opportunities for them. 29 per cent were still unsure on the issue and 19 per cent felt there would be nothing to gain from HIPs.
Paul Duckworth, chief executive at xit2 Group, said: “This result reflects a significant level of optimism with over half of respondents believing that HIPs will create new marketing opportunities.
HIPs are not only going to introduce processing efficiencies into the house-buying process but will also provide an opportunity for brokers to develop new strategic relationships.
All areas of the mortgage sales process from customer acquisition to product modelling have the capacity for development and mortgage brokers are well-placed to seize these opportunities.”
Graham Newitt, protection and housing director at Legal & General, said: “For mortgage intermediaries the most dangerous strategy on HIPs would be to do nothing.”
Richard Sexton, national business development manager at chartered surveyors e.surv, said the findings were positive but there was still work to be done in educating brokers as to the opportunities which would arise from HIPs.
He also warned that as estate agents would inevitably be offering clients a HIP solution, it was vital brokers could do the same.
“Otherwise there is a risk that estate agents could pull clients away from their existing brokers,” he said.
