Monthly Archives: November 2015

Claiming Compensation From Housebuilders

All housebuilders pay compensation eventually if it is justified!

When they say, “We don’t pay compensation” they’re lying  – they all do!

Is compensation justified? Well the answer is a resounding yes for many new homebuyers that have experienced the inevitable issues with their new home. This often requiring buyers to take time off work, or use paid leave to be at home to give builder’s sub contractors access to fix fully preventable defects with their new home. The general law also compensates new build homebuyers for distress and inconvenience related to defects in their homes.

Compensation MoneyWhen new homebuyers bring up the subject of compensation, I can guarantee the initial response from the housebuilder, be it the sales staff, site manager or the housebuilder’s customer care department will be: “it is not our company policy to pay compensation under any circumstances”.

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Help To Buy Helps Trigger Large Bonus Windfalls

Help to Buy helps trigger large bonus windfalls for housebuilder CEOs and senior directors.
Help To Buy jpgOn 17 March 2014 shares in the housebuilders surged up to 6% as George Osborne announced he was extending the Help to Buy Equity Share on new homes, until 2020. The announcement came less than a year after Help to Buy first became available. It had originally been due to end next year! However the second part of Help to Buy, the UK-wide mortgage guarantee scheme, is still due to finish at the end of December 2016.

At the time the chancellor announced that an extra £6bn would be put into the English scheme, allowing a further 120,000 new homes to be built. However there is little evidence that the housebuilders are responding by building more homes despite Help to Buy “helping” them to around 35% of their sales last year.

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