Cheap Home Information Pack provider ceases trading
One of the ‘cheapest’ Home Information Pack (HIP) providers who were favourably named in last months edition of Which have ‘withdrawn’ from the HIP market.
This demise has been inevitable for many of the cheap HIP providers including Promise Home Packs and we highlighted concerns last month in the article ‘Be aware of cheap, budget HIP & EPC providers‘. Promise are not the first HIP supplier to have left the market and certainly will not be the last.
Promise’s website has now been taken down though a brief paragraph can be found, including the following;
- ‘Unfortunately Promise Homepacks is ceasing trading and will not be accepting new orders.’
- Should you have a query, please phone 0844 372 2489 but be mindful this line is particularly busy at this moment.
Warning signs of this action were being witnessed at the beginning of last week with a statement from the directors being released on Friday.
“Home Owner Information Packs Ltd trading as Promise Homepacks announced today it’s withdrawal from the HIP’s market.
A spokesperson for the company said “The political environment at the current time makes it far from clear whether HIPs will play a long term role in the housing market. In addition the company has experienced third party service and commercial difficulties, which has adversely impacted on the company and its trade partners. The company has strived to offer excellent value and service, working on thinner margins, which makes the model more vulnerable when contractual difficulties arise beyond the company’s control. Taking all factors into consideration, there was no other sensible course for the directors to take.”
The directors have taken professional advice and will try to fulfil as much pipeline business as possible to maximise the position for clients and creditors.”
This news has prompted further speculation about the fate of other providers in the market place who are offering HIPs at what could be described as incredible or possibly ridiculous low prices.
It is hoped that no consumers are left without the Home Information Pack they have paid for and as little inconvenience is caused. It is worth remembering without certain HIP documentation in place legal marketing of the property can not commence.
The budget HIP providers’ (not just Promise) rise has been quite quick, though it does seem as it’s fall could be of a similar speed.
Estate Agent Today recently brought to light one HIP provider where the client could of possibly waited 28days before legally being allowed to market their property as they had not agreed to use their conveyancing. Read the full story here ‘Couple in frustrating wait for HIP to be released‘
HIP-Consultant.co.uk’s quality service and product has always been the basis of our business since we formed, never has our mission statement (please see our home page) been more important or relavant in the current HIP industry. Everyone of our clients (regardless of whether they are a private or trade client) receives a ‘mini HIP‘ as standard so legal market can start as soon as is possible. If you are looking for a quality, reliable Home Information Pack provider feel free to contact us.
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