

Consumer Satisfaction - 90% of consumers were dissatisfied with the old home buying and selling process.
Transparency - Key information about the property only became available after terms of the sale had been agreed. With HIPs the information is available upfront.
Sale Success Rates - 28% of property sales failed after the terms had been agreed. HIPs aim to minimise mortgage failures.
Costs - Failed transactions were costing customers £350 million a year.
Speed - With the help of HIPs, mortgage transactions should be sped up. Previous to HIPs being introduced transactions run at only half the speed of the European average.
Reliability - 60% of property sales are in chains. Delay or failure in one has a knock-on effect through the chain which HIPs is trying to prevent.