Fears home information packs (Hip) will have a negative impact on financial intermediary business levels appear to be justified following the publication of a report from business analyst, KPMG.
Its report - The future of [mortgage] advice, conducted for the Financial Services Authority (FSA) - suggests Hips could lead to the conversion of mortgage cases introduced by estate agents increasing significantly as estate agents will get “the first bite of the cherry”. KPMG says current estimates of the proportion of estate agent customers which are converted into mortgage customers run to about 27%. This, it predicts, could rise to 45-50%, following the introduction of Hips. The report claims Hips could “collapse the value chain even further” for surveying fees and financial advice, w...
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