Jeff Smith, chief executive of HIP Payment Services, has given the party the opportunity to confirm its points at a public debate. He asked the Tories to reveal how they would improve the home buying and selling process without using HIPs.
Smith said: “The time has come for the industry to challenge this cynical and frankly absurd opposition campaign. The home buying and selling public have been constantly mislead and misinformed by the Tories and their spokespeople, and it is time the industry got together to have it out.”
The Conservatives have been critical of the introduction of HIPs, Shadow Housing Minister, Grant Shapps, said: “The Labour government’s typically bureaucratic answer to these problems has been to impose HIPs against considerable opposition from the buying and selling public and the housing industry. Its worst fears have been realised; HIPs have introduced wasteful red tape and upfront costs to the seller with little or no appreciable advantage to the buyer.”
HIP Payment Services is planning to organise the debate for the New Year with representatives invited to take place.
In an open letter to Smith, Danny Lovey, sole trader at The Mortgage Practitioner, said: “HIP providers have a vested interest in retaining HIPs, so why should I be surprised? I look forward to this debate and would ask you especially to send me an invitation and for a slot to speak, where I shall oppose your view.
“This will stir people up and if he wants an open debate then I’m ready and will be first in the queue.”
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