The firm has launched its HIPs proposition with an option to include a HCR within it, with prices including an Energy Performance Certificate (EPC) ranging from £300 to £400, depending on the value of the property.
However, speaking at the launch, Dominic Toller, director of marketing and new business at LMS, said: “We don’t believe many people will opt for a voluntary HCR. We are offering it though as an option but whereas estate agents believe a HCR could be quite important in selling a house, we don’t believe there will be a big take up.”
Toller said there had been limited take up of HCRs during the HIPs dry-run commissioned by the government, despite the reports being offered for free to those taking part in the trial.
Download our news ticker
Justin Wiggins, IFA at Helinton Financial Services, believed HCRs were useful but the decision to make them voluntary undermined the entire HIPs ideal.
“I think HIPs in theory are a great idea. However HCRs have to be the main reason they came together. It has to be all or nothing, otherwise it might as well stay as it is. If HCRs protect the buyer and are worth the paper they are written on, they have a definite use.”
However, Anthony Badaloo, manager at Church Hill Finance, believed HCRs were flawed.
“The problem with HCRs is that they will not be perceived as independent and I would not like to rely on a HCR produced by the vendor.”
Catch up on the industry buzz
