First Time Buyer
Buyers of shoddy new homes to be protected by ombudsman
Housebuilders will be obliged to join the ombudsman so all homebuyers can get issues resolved.
Developers will be forced to pay compensation for substandard finishes on homes, under the new rules announced by housing secretary Robert Jenrick today.
The ombudsman will also have the power to ban rogue developers and order builders to carry out remedial work.
Buyers currently face long waits, as well as costly court cases, to sort problems with their new homes.
But under the ombudsman, consumers will be able to complain about a range of issues from sloppy brickwork to faulty wiring and get a faster outcome.
The independent ombudsman is to be enforced into law as soon as possible, Jenrick added.
At the same time, new measures have been confirmed to make sure all homes sold under the future Help to Buy scheme meet higher standards.
Jenrick said: “It’s completely unacceptable that so many people struggle to get answers when they find issues with their dream new home.
“That’s why the ombudsman will stop rogue developers getting away with shoddy building work and raise the game of housebuilders across the sector.
“Homebuyers will be able to access help when they need it, so disputes can be resolved faster and people can get the compensation they deserve.”
There are 0 Comment(s)
Everything you wanted to know about ISAs…but were afraid to ask
The new tax year is less than a fortnight away and for ISA savers or investors, it’s hugely important. If yo...
Your right to a refund if travel is affected by train strikes
There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...
Could you save money with a social broadband tariff?
Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.
What will happen if rates change
How your finances will be impacted by a rise in interest rates.
Regular Savings Calculator
Small regular contributions can build up nicely over time.
Online Savings Calculator
Work out how your online savings can build over time.
DIY investors: 10 common mistakes to avoid
For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.
Mortgage down-valuations: Tips to avoid pulling out of a house sale
Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?
Five tips for surviving a bear market mauling
The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...
Money Tips of the Week
© AE3 Media Ltd, Floor 7, Lincoln House, 296 - 300 High Holborn, London WC1V 7JH, Company.