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HIP code must be adhered to

Mortgage Solutions | 22 Feb 2008 | 15:27

The Association of Home Information Pack Providers (AHIPP) has urged consumers and industry alike to only use home information pack (HIP) providers who subscribe to the HIP code.

The HIP code is designed to provide protection for consumers and industry so all in the property transaction can rely on the contents of a HIP confidently.

The code is regulated by an independent body, the Property Codes Compliance Board (PCCB). The code says all its subscribers must have additional indemnity insurance to protect consumers, be transparent about the fees charged and only use personal searches which meet the stringent requirements of the search code.

Paul Broadhead, deputy director general at AHIPP commented: “It is baffling why anybody would source a HIP from a company who chooses not to meet the high standards that this industry is determined to set.”

Categories: Regulation | Mortgages
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