Buyers of Persimmon new-builds are to have the right to hold back 1.5% of the total purchase value of a property to allow for snagging issues.
The retention scheme, which will apply to buyers from the end of June, comes after the housebuilder has faced criticism for the quality of its work.
Under the scheme, a buyer’s solicitor will be allowed to retain 1.5% of the total home value, equating to around 6% of the build fabric costs, until any faults identified at the point of key release – meaning completion – are resolved.
However, buyers will need to have spotted the concerns before moving in, rather than being able to wait over the subsequent months to see if issues emerge.
A spokesman told EYE: “The customer must have identified all of the snags and naturally they will have had the opportunity to visit the property a number of times to identify any outstanding issues.
“Warranties will continue to exist for further problems that develop post the point of key release.”
Dave Jenkinson, chief executive of Persimmon, said: “Persimmon is listening hard to all of its stakeholders and we hear the message that we need to continue to raise our game in customer care.
“The initiatives we have already announced, including the action taken in the new year to deliver greater accuracy of anticipated moving-in dates by adopting a more targeted approach to the phasing of sales on specific sites, and the improvements and investments that we have made in our customer care team, operations and technology over the last few months are beginning to take effect.
“We are now accelerating the pace of change through the introduction of a contracted retention which will give home-buyers far greater satisfaction at the completion of the purchase.
“Moving into a new home should be a positive experience enhanced by all the benefits of a new-build that is designed for modern living.
“We are determined that the experience is not overshadowed by teething problems, and providing a home-buyer’s retention is an important step towards achieving this.”
It is the latest attempt by the housebuilder to boost its image amid rumours that it faced a ban from selling Help to Buy properties due to the condition of its properties.
Persimmon also faced criticism last year after awarding its then chief executive Jeff Fairburn a £75m bonus.
He left the firm at the end of 2018 amid controversy over the payment.