“I know that Persimmon has today, for example, announced the fact that they are going to be the first major housebuilder to bring in a retention idea, so some money will be retained by the buyer’s solicitors to deal with issues if there is anything that comes forward in the future. We’re putting enormous pressure on the housing industry to generally improve standards, particularly with regard to fire safety, and we’ll be reviewing building regulations later in the year to make sure that we get it right.”
Kit Malthouse, Housing Minister
NO, NO, NO says Owl!! It’s a fixed percentage of the purchase price!
IT WILL SIMPLY BE BUILT IN TO THE PURCHASE PRICE!