A HOUSEBUILDING company working on projects in the Solent region has started up an innovative retention scheme for new buyers.
Persimmon Homes, which is behind the Harbourside View project in Portchester, will now see 1.5 per cent of the total home value withheld by the buyer’s solicitor until any faults identified at the point of key release are resolved.
Managing director of Persimmon Homes South Coast, Matt Paine, explained: ‘For most of our customers, moving into their new home is an exciting and positive experience.
‘However sometimes there are teething problems that need to be addressed, and the introduction of this homebuyer’s retention is an important step towards ensuring every buyer is able to settle into their property with confidence and satisfaction.
‘Put simply, we don’t receive the full price of the home until these issues have been resolved.’
Based on the company’s current house prices, the amount retained will work out at roughly £3,600 per home.
The scheme is expected to be fully in place by June this year.
Chief executive officer Dave Jenkinson said: ‘We are now accelerating the pace of change through the introduction of a contracted retention which will give homebuyers far greater satisfaction at the completion of the purchase.’