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Persimmon unveils homebuyers’ retention scheme to boost image
Persimmon has unveiled plans to launch a retention scheme for homebuyers as part of an effort to improve its “customer care”.
The FTSE100 house builder, which is part of the government’s Help to Buy scheme, will write into its standard contracts that 1.5% of a home’s total value can be withheld by a buyer’s solicitor until faults are rectified.
Based on current selling prices, the average amount held will be around £3,600 per home. The company said it expects the new retention policy, a first among major house builders, to be in place by June.
It remains unclear at this stage if it will apply to housing associations that buy Section 106 off Persimmon.
The move comes amid reports yesterday that the firm has built homes found to be missing fire safety barriers.
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The York-headquartered firm has also reportedly come under government scrutiny over issues such as build quality and their leadership. Former boss Jeff Fairburn, who left last year, was widely vilified for receiving a £75m bonus.
Persimmon last month revealed its profits had topped £1bn for the first time, with around half of sales through Help To Buy.
Commenting on the new retention policy, Roger Devlin, chair at Persimmon, said: “This move, and the urgency with which we will introduce it, is a clear and unambiguous signal of cultural and operational change at Persimmon: putting customer care at the very centre of the business.”
