Housebuilder Persimmon is
to introduce a homebuyer’s retention clause into its contracts as part of its
customer care improvement plan.
The scheme, which
Persimmon says is an industry first, means that 1.5% of the total home value
can be withheld by the buyer’s solicitor until any faults identified at the
point of key release are resolved. The company says the clause will be
introduced by the end of June and, based on current selling prices, retention will
be around £3,600 per house.
Roger Devlin, Chairman,
said: “This is a first among the UK’s large housebuilders and I hope
will lead the way in change across the sector. This move, and the urgency
with which we will introduce it, is a clear and unambiguous signal of cultural
and operational change at Persimmon, putting customer care at the very centre
of the business.”
Persimmon has received
negative press over recent years relating to build problems with its houses,
and the way it has dealt with them – and this is a positive attempt to address
the situation. However, there is always the risk that such a scheme could
backfire and generate even more disputes between builder, buyer and solicitor.
Other housebuilders are likely to be watching with interest to see what
What is DealMakerz Prime?
In depth stories
Want to know the story behind Britain's latest property mogul? Why a company is going bust? Our coverage goes beyond run-of-the-mill news on key real estate issues.
High powered community
Our subscribers are made up of the most influential Founders and CEO's in UK property. Gain a competitive edge and get informed - read what they read.
Exclusive guest articles
Understand exactly what the most senior figures in UK property are thinking. Exclusive opinion articles from powerful real estate influencers that move markets.