SearchFlow and Xit2 have entered into a partnership to enable firms of any size to produce Home Information Packs (Hip).
The partnership will see the development of a technology interface between SearchFlow and Xit2, which the two firms say underlines their shared aim of creating a practical and scalable technology infrastructure to support the production of Hips.
Both say the reason for entering into partnership is because of the belief the success of Hips across the entire mortgage market depends on the getting fundamental technology in place before their proposed launch.
Mark Riddick, chief executive of SearchFlow, says cooperation and integration are key to ensuring the success of Hips. “Xit2 and SearchFlow offer a unique proposition providing content and ‘pipework’. We will be facilitating pack production, not competing with providers and so the welcome message for any firms looking to be providers is that a completely independent cost effective technological solution is available,” he says.
Paul Duckworth, chief executive of Xit2, says since the general election Hips are no longer a possibility but a reality the market needs to address. “Although talking about the availability of a full pack at the moment is slightly spurious as the government has not yet invited tenders for the data bank, providers will be pleased to know the ‘pipework’ for the industry is in place,” he adds.
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