e2m launches HIPs pilot
This scheme allows advisers to provide their customers with access to a fully comprehensive HIP including all necessary searches and a Home Condition Report.
Although, the use of these products will not become mandatory until June 2007, easierhips recognises that advisers will need time to incorporate these products into their advice process. In addition, some advisers are keen to start using these products now. Therefore, this pilot has been launched to allow companies to decide the best possible way to service their customers.
Karen Babington, director of sales and marketing at e2m, commented: “HIPs provide advisers with the potential to increase customer loyalty as well as their revenues, so we understand how important it is for companies to seamlessly incorporate HIPs into their advice process. With this in mind, we are encouraging advisers to take advantage of this opportunity to trial these products prior to their official launch in June 2007.
“Certain interest groups in the financial services industry and estate agency world are sceptical about whether these products will be launched on time or even launched at all. This attitude is dangerous as it means that companies may put off preparing for HIPs until the very last minute. We feel that HIPs will become a reality and that companies need to make adequate preparation for this significant change to the house buying process.”
e2m has been working on its easierhips proposition since early 2005 and offers advisers the following features:
· Portability – HIPs offered by estate agents are likely to tie a customer to a particular agency but those offered by easierhips to mortgage advisers are portable so consumers can leave if they are not happy with service standards.
· ‘Non exclusive’ offering – Some HIP providers will tie affiliated companies into exclusive distribution deals but e2m won’t as they understand that companies don’t want to run the risk of choosing just one company to provide their packs.
· ‘Own Branded’ Service – An online facility to offer easierhips and e2m conveyancing services to IFAs customers under their own branding can be built at no cost to the customer. This provides companies with a simple low maintenance mechanism to develop additional revenue streams – all under their own corporate banner.
· Payment on completion – The easierhips product has been designed so that the cost to the seller is only paid on completion thus making sure that sellers are not dissuaded from putting their property on the market by the cost of a HIP.
· Independence – e2m is completely independent and not affiliated with any organisation that will attempt to cross sell products to an IFAs clients.
· Experience – e2m has been providing panel conveyancing services for large companies since 2000 so has the knowledge and support network through its account management team to provide a HIP service that meets all of an IFA’s needs.
· Strong Partnerships – easierhips has teamed up with two surveying organisations (SAVA and e.surv) to provide the home condition reports within their HIPs. Advisers can alternatively choose to use their own home inspectors.
· Additional Services – Once a sale is agreed e2m can provide access to a solicitor to deal with the conveyancing at a competitive fixed price with a ‘no sale no fee’ guarantee.