HIP service company ceases trading

HIP Payment Services offered deferred payment options for home information packs (HIPs), but a lack of housing transactions has made it impossible for the business to continue. Jeff Smith, chief executive of HIP Facilities Group, says: “Having weathered the shambolic launch and roll out of HIPs, I am very disappointed that we have had to take this decision. “However, there eventually comes a time when even a market leader must acknowledge that the transaction volumes in the HIP market no longer offer an independent lender such as HIP Payment Services a viable platform on which to build a...