There are several codes of practice operating to protect homebuyers in the UK. One of the longest established, the Consumer Code for Home Builders, is now seeking your views on its future operation.
The review is partly driven by the introduction of a New Homes Quality Code, the framework for which is due to go live before the end of 2022.
The voluntary Consumer Code, which already applies to more than 95% of all new build homes across the UK, has a significant role to play in consumer protection.
Builders, developers and consumers can take the survey here.
John Bridgeman CBE is leading an independent review of the Consumer Code which will inform recommendations to the Code’s Management Board in the autumn.
Questions are asked about aligning codes, and how that might work in practice, and whether the Consumer Code should be strengthened, including:
The review also asks if the total financial limit of the Code’s independent dispute resolution scheme should be raised from the current £15,000 and whether home buyers also should be compensated for distress and inconvenience.
As a founding member of the Consumer Code, all Premier Guarantee Registered Developers and builders must adhere to the rules of the code.
It was set up to protect the interests of homebuyers during the purchase of newly built homes and covers every stage of the home-buying process – pre-contract, exchange of contract and during occupation.
To ensure that Home Buyers:
Anyone who buys or reserves a newly built home under the insurance protection of Premier Guarantee or by the other warranty providers as stated in the Consumer Code.
Every stage of the home-buying process is covered by the Code: pre-purchase, pre-contract, exchange of contract and during occupation. There are clearly defined requirements that builders must adhere to in order to comply with the Code and therefore ensure the home buyer is fairly treated throughout the buying process. Further information about what is covered by the Code can be found at the Consumer Code website.
Every care was taken to ensure the information in this article was correct at the time of publication (September 2022).