Require that 10% of the purchase price of a new homes be held by an independent body, until all snags and defects have been rectified by the developer.
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These monies would only be released once the snagging period has expired, and all issues been resolved.
In light of my own on-going home purchase I wish to better protect purchasers of new home buyers from poor workmanship and issues that may arise with new homes.
I ask the Government to introduce legislation that will allow ensure that all 10% of the purchase price of all new homes is held by an independent body until all snags and defects are resolved.
If snags and defects are unresolved, this money would be returned to the home owner, rather than paid to the developer.