Snagging retentions

[New Build Inspector]

88% of new build homeowners support idea of 'snagging retention' - a system of withholding funds until faults are put right by the housebuilder.

"A snagging retention would create a powerful incentive for builders to sort out problems and go a long way towards redressing the balance of power back towards buyers who currently have far too little in the way of consumer protections." says Kate Green

Read more about snagging and other findings from our New Build Satisfaction Survey: https://hoa.org.uk/campaigns/snagging-retention/

 

[NewHomeExpert]

This silly ill-thought out "retention" HOA idea just would never work.
An administrative nightmare with warranty providers, housebuilders, solicitors, a retention holding company and tens of thousands of individual new homebuyers all would have input and opinion.
The only beneficiaries would be the legal profession!

The HOA should get behind the statutory New Homes Ombudsman which would have legal powers to force housebuilders to fix defects and pay meaningful compensation to home buyers.
Trouble is, the HOA didn't think of this, I did!