Hip providers pose same danger as CMCs

Eddie Goldsmith, partner at Goldsmith Williams, says there are at least 130 Hip providers already registered at Companies House. But Williams fears many of these companies may simply have been created by people who have no experience of the mortgage industry and see Hips as a way to get rich quick. “I think Hips help to create a market that was not there before and will, or is already, attracting people that are there simply to make money,” Williams says. “What concerns me is they will look to extract money where there previously was not an income stream and I can’t see how Hips are goin...