The Association of Mortgage Intermediaries has created a factsheet to help mortgage intermediaries to plan for the introduction of home information packs.
Ami is concerned too few intermediaries are considering the impact Hips could have on their business, and hopes the factsheet will encourage firms to plan ahead.
Hip implementation could present estate agents, surveyors and HIP providers with a major competitive advantage in the house purchase process.
Ami is warning intermediaries to consider how they will safeguard their business.
The association is in discussion with the ODPM on the issues pertinent to the professional mortgage advisery market. Ami will also be monitoring the Hips dry-run in 2006 closely, to assess the likely impact on intermediaries.
Ami director Chris Cummings says:
Some commentators have focussed on the possible consequences of a market slowdown but the real issue for intermediaries is ensuring their services are not overlooked because home movers are captured by competitors. Now is the time to plan to stop this from happening.