It’s obviously an attempt at a reputation fix, but it’s still a sound principle for Help to BuyPersimmon described it as a homebuyer’s “retention”, but could have called it the Jeff Fairburn memorial clause. Buyers of Persimmon houses will be able to withhold 1.5% of the purchase price, or £3,600 on average, until the builder has fixed any faults. It is an eye-catching gesture designed to combat Persimmon’s reputation for corporate greed, as embodied by Fairburn’s infamous £75m bonus.Even government ministers seem to have noticed that bonanza and decided to take a look at Persimmon. They found a company making £1.1bn of annual profit, thanks in large part to the government’s Help to Buy scheme, but generating a disproportionately high volume of complaints from customers. Continue reading…
Source : theguardian.com
Read more…Persimmon’s new homebuyers’ ‘retention’ at least shows willing
