Housebuilder Bovis puts aside extra money to deal with faulty homes

Thu, 06 Jul 2017

Housebuilder Bovis puts aside extra money to deal with faulty homes
Bovis Homes has set aside an extra £3.5m for rectifying issues with the build quality of its new homes, bringing the total amount spent on remedial work up to £10.5m.

Many customers have complained that the homes they were sold had not been finished, reporting electrical faults, prominent nails and issues with the plumbing in their new properties.

The company has admitted that it received many complaints over houses which were sold unfinished in order to meet sales targets, and has already set aside £7m to deal with these faults.

Bovis announced in February that it would be slowing down its construction programme so that it could correct mistakes, which would affect its completion and sales rates.

In a statement, the housebuilder said: "This further provision will ensure we are fully resourced to complete the works identified as swiftly as possible whilst at the same time delivering the appropriate high level of service to our new customers.

"We are confident that all legacy issues are now identified and that where possible these issues will be fully dealt with, and the related costs incurred during this financial year."

Greg Fitzgerald came out of retirement earlier this year to be the chief executive and lead a strategic review of Bovis' business, replacing previous chief executive David Ritchie, who departed due to the complaints earlier this year.

"The trading performance in the first half of our financial year is in line with management expectations," Mr Fitzgerald said.

"In the past 11 weeks I have spent a good amount of time with each of our operating regions, visited 85 sites and met the vast majority of our people.

"We continue to identify and implement operational improvements and I am very confident we can deliver a successful turnaround, returning Bovis Homes to being a leading UK housebuilder."

In the first six months of 2017, Bovis completed 1,512 new homes, with the average selling price rising 9 per cent compared to one year ago, now sitting at £277,000.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Note: For a free no obligation chat with an independant mortgage specialist about your requirements please complete ourmortgage enquiry form below.

Mortgage, Remortgage or Buy-to-Let Mortgage Enquiry Form

Stop Press: Find the perfect mortgage!
Lending criteria has been relaxed and our specialists can find you great mortgage offers to compare.
Our team do all the work to find you the best offer
We'll help you find the best mortgage for your needs and ensure that everything runs as smoothly as possible.
Deposits required are again falling
The cost of the best deals has dropped recently for those borrowing either 80%, 85% or 90% of their property's value
Independent, searching the whole market
With 1000's of mortgage products available our mortgage brokers will source the mortgage that suits your situation.
Please complete this quick, free enquiry form.


Your Details

Home Buyer Guides

Home Buyer News

Speak with an independant mortgage specialist

About Company is part of the SFN Network of websites. Sitefinders Net Ltd is a U.K based company setup in 1995. Our core business is the development of online businesses using the generic domain name concept. We have a growing portfolio of websites in many different industries such as electronics, finance, retail, seasonal and health.

Privacy Policy

Get in Touch