With 68 per cent of AMI’s members considering the impact of HIPs on their business, it intrigued me how only 7 per cent are planning to produce HIPs in-house, while 46 per cent plan to white-label third-party packs.
I believe mortgage intermediaries are underestimating the commercial potential surrounding HIPs, and should perhaps consider ways in which they too can offer HIP packages and services when the initiative commences in June 2007.
There are businesses offering immediate access to online systems that gather all elements of the HIP via a web-browser. Users can download exactly what is needed and HIPs can be collated, adding greater value through more services or marketing material, as appropriate. At Quest, our technology has been in place for some time, and allows all links in the property chain to create their own branded HIPs, at the touch of a button. It really is very simple to become involved.
I am encouraging mortgage brokers to review the options available to them now, and perhaps consider ways in which they can work with solicitors, estate agents and home inspectors, to offer a complete one-stop HIP service to consumers in their local area. By having the right technology, and the right partnerships, intermediaries will be well placed to take advantage of the many opportunities arising from HIPs.
Tom Parker
Managing director, Quest Associates
