HIPs
Working together
Collective engagement and commercial viability is crucial for the
industry, which is why the E-Homebuying Forum was set up
doing so, deliver faster certainty to the conveyancers and lenders. The nullrum
by
homebuying process. recognises that lender engagement is
Ian Floyed, nullnce the nullrum was established, it sporadic at best, but concerns around
chief
has grown to around null companies that security and increasing levels of fraud
enullcutive,
span the world of property transactions, is likely to change this, which in turn will
null nullme
nullve nulld
from marketing through to completion. hopefully lead to increased incidences of
What members have in common is efficient information enullhange.
a frustration with the collective failure nulle of the nullrum’s key
The downturn in the property market of nullvernment and industry over the recommendations is for the wider
over the last few years has forced us last decade to reform the homebuying use of in principle mortgage offers.
all to review our business practices, process for the benefit of consumers nullllowing consultation, it seems
as companies across the UK attempt and professionals. nullr this reason the decisionnullnnullrinciple is clearly a useful
to make their operations as efficient nullnullmebuying nullrum is working with tool for consumers, giving them a
as possible. The need to improve nullvernment and industry groups to valuable guide to what they will be able
the homebuying and selling process encourage development of commercially to borrow before they start searching
actually predates the current economic viable initiatives that deliver faster for a property. This makes it easier for
downturn, but despite the industry’s certainty to home buyers and sellers. industry to work out what consumers
best efforts real progress is yet to be Working together to ensure commercial can afford upfront and therefore allows
made. A lot of time, effort and money viability is crucial because it is industry them to be realistic about their options.
have been wasted on well intentioned that will ultimately deliver the products null may also work to reassure the vendor
schemes with minimal results. We and services to the market. Through work when interest in a particular property is
have the technology, the commercial with nullvernment departments we are high. An enullension of this is prenullualified
nous and the political will to make the also able to identify long term business borrowers. null a prospective buyer can
process better for buyers and sellers. opportunities, by being directly involved demonstrate their bona fides, both in
nullwever, the initiatives introduced by in shaping the future of the homebuying terms of their ability to afford a property
the nullvernment in the last decade, for marketplace from an early stage. and their ability to proceed, then a
enullmple, nullnull and the nullain nulltrinull transaction can be pursued with greater
have not fully delivered on this potential. recommendatIons certainty. Widespread use of tools such
null is important to recognise that in We nullined the nullrum as its main as these would constitute important first
some ways the challenges facing our purpose is to facilitate improvement of steps towards wider reform.
industry are uninulle. Unlike many other the property transaction process and
transactions, the home buying and we believe it is vital that businesses, Focus
selling process is not delivered by one regardless of sinull, proactively involve While setting out a vision for improving
but several different professionals, themselves in the ongoing debates the transaction process is important
businesses and government agencies around reform. With this in mind the we aim to do much more, which is why
collectively. nullet the need to act together nullrum published a nullueprint for change the nullrum is currently focussed on our
and above vested interests has never a year after its launch, a forward various action groups, each working to
been more urgent. looking document designed to set out set out clear steps for how our various
a platform for improving the property recommendations might be delivered.
Industry body transaction process. null identifies eleven nullsitive progress is being made. This
The nullnullmebuying nullrum is an industry recommendations through which we year promises to be a crucial one for the
body bringing together forward thinking can achieve greater transparency, property market for so many reasons,
businesses from across the residential commitment and efficiency in home not least when viewed in relation to the
property sector. The core purpose is to buying and selling, including greater upcoming election. The opportunity to
provide an industrynulled vision for reform electronic information enullhange redefine the homebuying and selling
of home buying and selling, and in between the nullnd nullgistry and process has never been greater.
null mortgage introducer manullH nullnull
Mi p36_0310.indd 2 23/02/2010 11:05
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