The old journalistic phrase, ‘the first casualty of war is truth’ was never so apt as to describe the HIP debate. The debate rumbles on in a largely directionless and, to some extent, pointless direction.
In fact, so much so that I find myself agreeing wholeheartedly with Stephen Knight’s assertion that some factual feedback following a trial period in selected areas is what’s needed, prior to national roll out. Surely this is not too much to ask? The resulting information would either (a)add to or (b)burst the PR bubble that the commercial self-interest HIP lobby has recently been inflating. In other words, why let the facts get in the way of a good argument?
Let me be clear – at Infinity we support the principles behind the introduction of HIPs and can see the potential benefits. All we ask, as Knight has done, is to have some good old fashioned facts following a pilot/trial roll out to underpin those beliefs. It’s easier to make adjustments following that information before national roll out takes place. The Bristol trial was useful but was too brief and too restrictive geographically.
We don’t run our businesses on guesswork but it seems certain agencies are prepared to run the housing market on that basis. The stakes are just too high for there to be any margin of error. I, for one (as will a few million homeowners and the entire mortgage industry), will be crossing my fingers next July. What a state of affairs.
Simon Biddle
Head of marketing and communications, Infinity Mortgages
