Pay later option offered on home packs

Consumers will be offered the option of deferring payment for their HIP until their property sale has completed.

It is hoped that the 10-month payment schemes will give agents the opportunity to offer their customers a ‘buy now, pay later’ option which still allows HIP providers to receive their payment promptly.

Jeff Smith, chief executive at HIP Payment Services, said: “The scheme allows consumers to ‘buy now and pay later’, paying for their HIP after their sale has completed, enabling agents to meet the demand from customers while removing the burden of chasing payment.”

Dominic Toller, director of marketing and new business at LMS, added: “We are very pleased to be offering our agents this new deferred payment system which will, we hope, make life just a little bit easier for house sellers.”

Chris Wood, vice-president at the National Association of Estate Agents, said: “Deferring the payment for a HIP until the end of the process will alleviate upfront costs and is likely to be viewed in a positive light by the house selling public. It doesn’t take away from the fact that the pack itself – aside from the Energy Performance Certificate – is still an unnecessary expense. Whether it is paid for at the beginning or the end of the process, a price still has to be paid and it is questionable how much consumers actually get for their money with HIPs.”

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