Nationwide welcomes HIPs timetable
The timetable sets out the key milestones to be achieved between now and the launch of HIPs on 1 June 2007. In June 2006 full details about the contents and availability of HIPs will be announced.
Larry Banda, head of mortgages at Nationwide, said: “There has been some uncertainty about the Government’s plans so this announcement is very welcome. We support any move to improve the consumer’s experience and speed up the house buying process and we believe that the introduction of HIPs should be especially helpful for first time buyers.
“In setting out this timetable the Government has confirmed that it is committed to introducing HIPs from 1 June 2007. Nationwide can now prepare for the impact that HIPs are likely to have on our members and we welcome the clarity that this announcement gives us.”