5 Aug

Hips firm reports rise in demand

Hips firm reports rise in demand

A firm that provides home information packs (Hips) has enjoyed a 35 per cent rise in demand after introducing a new no-sale no-fee product.

Promise Homepacks saw the number of purchasers of its product surge by over a third in just 48 hours, but these have proved unpopular with some agents and consumers, Mortgage Strategy reports.

The reason for this was that they feared being lumbered with the cost of the home in question failed to sell.

However, many agents and consumers have been keen to take up the offer, with managing director of the firm Darren Beech stating: "The phones have been red hot with enquiries this week from sellers, estate agents and solicitors."

Mr Beech said the company had also gained from selling its standard Hip at £255, much less than the average £400 cost quoted by the BBC.

Despite the success enjoyed by the company, opposition to Hips is still widespread.

The Conservative Party, which has vowed to scrap Hips, recently pointed to a poll by YouGov last month showing that just five per cent of respondents believed the scheme has improved the process of buying and selling houses.

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