Lexicon pushes through HIPs plans
Lexicon also announced its submission for the Quality Assurance scheme run by the Association of Building Engineers’ (ABE) Home Inspectors Assessment Centre has been approved.
Mark Glithero, managing director at Lexicon, spoke to Mortgage Introducer following the announcement by the Office of the Deputy Prime Minister (ODPM) that the date for the compulsory introduction of HIPs is set for 1 June 2007.
“The approval means only three Home Condition Reports (HCRs), one observed by an ABE assessor, will need to be completed by a Lexicon home inspector, instead of the standard portfolio of ten. This enables surveyors to qualify more quickly,” he said.
Glithero added: “Packaging, broking and lender partners now have another reason to endorse their decision to work with us. Lexicon is among the first surveying firms in the UK to receive this accolade. This recognition by an approved body demonstrates Lexicon’s expertise in this field and its continuing drive towards quality reporting and service delivery.”
Dev Malle, sales director at Pink Home Loans, said: “In terms of timescales for HIPs, we strongly believe this could have a substantial impact on the industry and should be done in a controlled and stepped way. The introduction should be at a time when the mortgage industry is traditionally not at its peak. An ideal time would be quarter one 2008 with a pilot taking place between Autumn and Winter 2007.”
“Early indications are that there will be a shortage of qualified HIPs surveyors and this in itself may impact on the professionalism with which the surveying world is regarded, which in turn may knock the confidence consumers have in HIPs,” he added.