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Brokers urged to pick up on packs

Brokers should start making plans for the arrival of home information packs and should not see them as a threat to their business,says United Group.

United, owner of eConveyancer and United Surveyors is encouraging mortgage brokers to embrace Hips prior to full launch in 2007.

Sales director Alan Dring believes that brokers must ensure they have the ability to capitalise on the commercial opportunities that the packs will generate which may include creating relationships with local estate agents as well as Hip providers.

Concern has been expressed that brokers could be sidelined by Hip providers, who could offer clients a mortgage proposition at the same time as arranging a pack. The Association of Mortgage Intermediaries has recently urged mortgage brokers to consider how Hips will fit into their businesses and Ami director general Chris Cummings says he has “serious concerns about the implications of Hips”.

Econveyancer will be offering its own Hip proposition to brokers in the first part of 2006.

Dring says : “I know from anecdotal feedback from brokers that Hips are not yet on their radar screens. I enc- ourage brokers to start thinking in strategic terms about the ways in which they can build a Hip service into their current proposition as soon as possible.”

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