Insurance News Archive

New-build homebuyers 'will be given extra protection'

A new code of conduct introduced by housebuilders to counter evidence of dissatisfaction among new-build consumers may give added support to future purchasers, it has been suggested.

The Home Builder's Federation (HBF) has said the new guidelines, aiming to be fully effective by March 2010, are an "additional guarantee for people" and boost confidence in the sector.

An Office of Fair Trading (OFT) report influencing the move recently stated while there was little evidence of competition problems with the delivery of new homes in the UK, there were a number of problems experienced by homebuyers, including delays in moving in and faults in the housing supplied.

Steve Turner, speaking for the HBF, said: "It [the code] will be a clear set of procedures so that they [customers] know exactly what they can do to get their problems solved as quickly as possible."

The OFT study also revealed that on the whole there were few barriers to entering the market.

30 Sep 2008