HIPs for lenders

The current regulatory position

• From 14th December 2007 every residential property brought to market must have a HIP, subject to certain exemptions.
• The “drop dead date” has not yet been confirmed. This is the date when all properties on the market, regardless of when they were put on the market, will require a HIP.
• Currently temporary provisions regarding “first day marketing” (the point at which you can legally market the property) have been extended. This means that at the present time you can continue to market property as soon as the HIP has been ordered and payment is arranged rather than having to wait for the complete HIP.
• The rules regarding leasehold documents have also been temporarily amended. Currently only the lease document is a “required” document, other leasehold documents are simply 'authorised'.

Reforming the home buying and selling process

HIPs are the single most important development in home buying and selling for several decades. They have been created to make the current process easier, faster, more successful and much less stressful by providing important information about a property at the point of sale, rather than much later down the line.

Having spent some three years working with the Government, estate agencies, lenders, brokers and, most importantly, consumers, in developing pre sale packs and HIPs, LMS is convinced that the packs will make a vital contribution to improving the process of buying and selling homes.

As one of the UK's leading providers of Home Information Packs, we have already been appointed sole supplier of HIPs to Halifax Estate Agencies - but you don't have to be big to benefit.

With LMS, you can offer your clients something above and beyond the competition regardless of your size - whilst at the same time, paving the way for a smooth transition to HIPs as they come on stream.

What's in it for you?

Click here for a round up of benefits for lenders.

Benefits for your customers

Click here for a round up of benefits for your customers.

Register now

For more information on LMS HIPs please contact us on 07795 358699.