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Closures, late-payers and non-payers

Submitted by: MikeC (Admin) on 30-Oct-07 08:13:41 PM

The Govt's delay in launching HIPs out to full market, coupled with the downturn in the housing market, is now beginning to bite larger numbers of both businesses and DEAs alike.

Last week saw the final demise of First Sellers Pack (FSP). This, after it was rescued back in August when it went into administration on the same day HIPs was launched for 3-bed homes and over.

Clearly, the financiers couldn't stomach the uncertain waiting game any longer - Rumour has it that FSP never completed more than a "few dozen HIPs a day" (Source: Printweek).


Habitus-employed DEAs spent most of last week biting their nails after it was revealed they are slimming-down their complement of energy assessors - Or "Home Moving Advisors", as they are termed.

Whilst it seems some have survived the axe - for now at least - others have not been so fortunate.

In another twist, I've just been informed they are paying this month's salary a few days late, by cheque.

A sad (and bad) time for those affected over there, for sure - I asked Roger Doddy - Marketing Director - if he'd come on the DEA podcast to explain the difficulties being faced but he declined saying the company wants to talk directly to their DEAs first - Understandable.

At least they are getting paid...

Non-Payers/Late Payers

Several DEAs are experiencing difficulty getting paid for work processed back in early August. Some have said they can't get anyone to even answer the phone over at Energyfast... nor can they get anyone to answer left messages.

Those that have managed to speak to the company have said they were apparently promised that cheques were in the post. But - as of yesterday - still nothing (At least one DEA has been waiting over two weeks on that promise).

Jacking it in

Another person over at the HomeInspectorForum, today, stated they were intending to work for a couple of months in the hope of recouping some of his training "investment" - After that, he's bailing out:

Although i am accredited until next Aug I am looking to make my exit in the next 2 months having invested with loss of earnings and other assoc costs at least £20K and rising daily.

Elsewhere, he added:

I have lost £20k so far, my marriage is on the rocks luckily for me my parents have given me a loan to tide me over until i can find a new job. Without their help i would be selling my home.

What are his chances of even surviving another two months?

Neil Kurz (NRG Experts) also came out, saying:

... we are certainly getting the first signs of self-employed people turning down work from NRG Experts as they have chosen to leave the industry and take a more regular income doing something different.

Looking to the horizon

We're entering the seasonal "down-cycle" which is being further compounded by a slowing housing market.

The immediate outlook - according to the Council of Mortgage Lenders (CML) - is that repossessions will rise by 50% to 45,000 (30,000 in 2007) over the coming year.

Last month, mortgage approvals dropped to a 26-month low and the CML also predicts that next year, house-price growth will slow to just 1 percent (7 percent - 2007).

Read more on this at Bloomberg and the Guardian which is warning first-time buyers about negative equity.

Negative equity is a real market-killer - It is what makes a home, a prison, for those who can maintain mortgage payments, but cannot sell.


With the Govt effectively tying the full roll-out of HIPs to the housing market, you surely cannot be blamed for asking: 'Where the fuck is the finishing line moving to now then?'

Sorry, another depressing post. It is dire. The only "survivors" going forward will be those who have plenty of resources to ride out this maelstrom.

We all know there are way too many DEAs; even if we had a full HIPs implementation tomorrow (and no slowing market), there's still too many. It stands to reason that many of you will have to fall on your sword, there is no escaping that.

I only hope that as many of you as possible suffer little pain in the process... the longer you hang on, however, the more certain you will.

My heart goes out to you and yours... truly. But please remember: It is not you that has failed here; your Government has failed you... remember that.

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