The Home Owners Alliance have launched a campaign for a snagging retention scheme which would enable buyers of new builds to hold back 2.5% of payment until they are completely satisfied with their new property.
In a research study by the Home Owners Alliance, 90% of participants supported this initiative while, in a poll by YouGov, 76% of people in general backed this new idea. Poll respondents thought this scheme would help to ensure builders have accountability, improve quality standards and incentivise builders to both get it right first time and to sort out any problems.
With only 57% of people saying their warranty provider resolved builder disputes, this is clearly a big area for improvement.
Paula Higgins, Chief Executive of the Home Owners Alliance commented, ‘Sadly, money talks. If we want better quality homes, we must let home owners hold back cash. In the Government’s drive to build more homes quality has been compromised in the quest for quantity.’
Julia Evans, smarthomes New Homes Director added, ‘We launched our New Homes division in 2018 and are very selective about which developers we choose to work with. We only work with professional, responsible property developers who work closely with us, and our clients, to ensure complete customer satisfaction.’
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