Persimmon homebuyers can withhold money until faults fixed
(The Guardian Money News)

Contracts will state that 1.5% of property value can be held back until problems resolvedPersimmon, one of Britain´s biggest housebuilders, has responded to criticism about the quality of its homes by allowing homebuyers to withhold an average of £3,600 per home until all faults are fixed.The company has come under fire for paying out £500m in bonuses to 150 executives and making an annual profit of £1.1bn on the back of the government´s help to buy scheme, while doing little to improve customer care and the quality of its new-build homes. Many homebuyers have complained about finding numerous defects after moving in, including leaks and cracking windows. Continue reading...