Home-owner packs offer ad opportunity

Mortgage providers and insurance companies will have an extra channel through which to market their products to householders from next June, when property owners will have to provide potential buyers with Home Information Packs (HIPs).

The packs will contain items such as a home-condition report and terms of sale based on a professional survey of the property.

Advertisers will not be able to place marketing material in the same folder, but a spokeswoman at the Office of the Deputy Prime Minister said they may be able to advertise on the packaging or in a separate compartment of the folder.

'We might eventually see mortgage providers including a conditional mortgage offer on a property, within HIPs,' said Mike Ockenden, director-general of the Association of Home Information Pack Providers.

Next month, the government is launching a campaign, through Leo Burnett and Arc, to publicise HIPs to the relevant industries. A consumer push, including TV ads, will break in April 2007.

The initiative is intended to improve the UK home-buying and selling market by providing key information about properties up-front.

'Buyers often waste hundreds of pounds on valuations and legal advice on sales that break down. HIPs will significantly cut sales that fall through,' said housing minister Yvette Cooper.

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