The trial will try to identify how HCRs can be maximised, including how best to use Energy Performance Certificates (EPCs) as a way of improving the public’s awareness of efficiency matters.
The government release suggested Yvette Cooper would like to meet lenders to discuss how EPCs could be linked to ‘green mortgages’.
Bernard Clarke, communications manager at the CML, commented: “We are looking into what energy efficiency mortgages are available in other countries and talking to members about possibilities for this type of lending.”
Buyers and sellers reactions to the packs will be tested during the run up to mandatory EPCs and HIPs for all residential sales on 1 June 2007.
The trials, which begin on 6 November, aim to understand the impact of HIPs on the home-buying and selling process, both with and without HCRs, which will be voluntary elements.
As part of the trial there will be a number of incentives, including a number of free packs as well as packs available at reduced prices for homeowners who want to try them out.
An industry source, who wished to remain anonymous, said: “After a period of inactivity, lenders and HIP project teams are becoming more active. HIPs could provide brokers with an opportunity to work closely with providers and gain an additional income. Brokers should observe the dry-run closely. As the trial gets under way, we will be able to see how HIPs will impact on the industry.”
