New requirements for new homes
The New Homes Quality Board has published a new code for the home buying process.
The New Homes Quality Board has published the New Homes Quality Code introducing requirements for developers and protections for consumers on the purchase of a new home.
The code, issued in December 2021, is outlined to protect vulnerable customers, prohibit high pressure selling, and requires any deposits the customer pays to their builder to be protected. The code will apply to all private customers who reserve their new home from the date their developer transitions to the new arrangements. The code also sets out ten fundamental principles which registered developers must agree to apply in their business and customer dealings, and the practical steps to consider.
The Board has identified that from January 2022, developers and housebuilders of new homes will be expected to register with them, with the final registration date being 31 December 2022.
More information from the New Homes Quality Board can be found on their website, here: https://www.nhqb.org.uk/new-homes-quality-code-published/