Property Information Packs
What is PIP Limited?
PIP Limited (PIP) is a company which offers Property Information Products. PIP aims to halve the time it takes to complete a residential housing transaction and to significantly reduce the fall through rate of failed transactions.
Whilst it does not offer property logbooks itself, it wants to be part of the solution that provides a digital logbook for every property selling in the UK
The PIP Vault
The PIP Vault offers estate agents the ability to offer home sellers to collate and store all the information they need to sell their home digitally in one place. PIP sets up a ‘PIP Vault’ via a link on the estate agent’s website.
The home seller, estate agent and solicitor or conveyancer are all able to store and access information about the properties they are involved with through the PIP Vault. PIP has been using their technology and their vault solution in the UK property auction market for the last 18 years.
One way to look at the PIP vault is that it provides a digital data room for every housing transaction.
The PIP Report
PIP is currently developing the PIP Report which is a report prepared by a third party conveyancer to review the Title, local authority searches and all the information stored in the PIP Vault relating to a particular housing transaction to assess if more information is required to progress the sale.
Digital Property Logbooks save you time and money
The UK Government is supportive of the development of Digital Property Logbooks in part because all agree that better access to information can reduce the time it takes to complete a housing transaction and reduce the risk and heartache of a failed housing transaction.
PIP does not offer digital property logbooks directly to homeowners and renters, PIP’s products are available if you are selling your home and the estate agent you are using is a customer of PIP.
Sign up for your free Twindig digital property logbook
The good news is that Twindig offers every household a free digital property logbook and you don’t have to be selling your property to have one. We have set up skeleton digital property logbook templates for every home across the country. To claim your free digital property logbook all you need to do is register your property on twindig.com.
PIP is focused on rolling out the PIP Vault as a service to estate agents, PIP believes that estate agents using the PIP Vault will win more instructions, reduce housing transaction fall through rates and achieve quicker exchanges.
In January 2021 PIP’s founder, Tim Main told Property Industry Eye that it will roll out its service nationwide in the next three months.
PIP recently hired Viewber co-founder Ed Mead in a consultancy role to assist with the national rollout.
PIP Target Market
Initially, PIP’s target is UK estate agents who will provide home buyers and sellers access to the documents in the PIP Vault via a secure link from the estate agent’s website.
PIP revenue model
PIP is seeking to charge estate agents £25 upon each successful completion that has used the PIP Vault. PIP’s services have been trialled by several estate agents in the Shropshire area.
PIP Limited was incorporated on 8 December 2017 and was conceived as the founders came together to see if lessons learnt and technology used in the UK residential auction market could be adapted for use in the residential sales market.
PIP Management Team
Tim Main MRICS
Tim Main is a co-founder and director of Property Information Products (PIP). PIP was founded by Mr Main as he was increasingly frustrated by the time it took to exchange contracts for housing transactions.
Mr Main also has a property consulting business Tim Main Associates which he started when he left Balfours in February 2017
Before founding PIP Mr Main spent 14 years at Balfours where he ran the Sales Team in the Shrewsbury Office focusing on residential, farms/estates and development land.
Mr Main was a director of Willo Game a dealer and processor of Wild Game between March 2018 and February 2019
Steve Foden co-founder and director of Property Information Products (PIP)
Mr Foden is a solicitor who like Mr Main is keen to see a more straight forward and stress-free way to buy and sell a home in the UK
Mr Foden is also a director of Foden Solicitors, a firm which he has been a director of since May 2010.
David Sandeman is a co-founder and director of Property Information Products (PIP)
Mr Sandeman is also the founder of Essential Information Group (EIG) which he founded in 1990 to provide accurate information and to help facilitate smoother transactions in the UK auction market
Mr Sandeman qualified as a barrister in 1982. He also at just 17 years of age became the youngest person to singlehandedly sail across the Atlantic.
David Leary is a Director of Property Information Products (PIP)
Mr Leary oversees the IT and technology of PIP, and like his fellow directors is always focused on how technology can make the house buying and selling process easier
Mr Leary is also a director of Essential Information Group (EIG) where he oversees business and product development.
Kelly Davis is PIP Limited's Conveyancing Manager
Ms Davis has been a property lawyer for more than 20 years
Ms Davis is also a director of Foden’s Solicitors where she is responsible for the residential department of Foden’s