Housebuilders agree code of conduct

Housebuilders are to set up a code of conduct and a redress scheme for dissatisfied customers following an industry inquiry by the competition watchdog, it was announced. The Office of Fair Trading (OFT) said its market study into housebuilders had found that while the sector was “broadly competitive”, many homebuyers experienced faults with their new property or delays moving in. It said that while many of these faults were quickly fixed, some homeowners did suffer “significant detriment, distress and inconvenience” if there were major faults or many problems with their new home, particularly if these related to the plumbing or heating. Read the full story at news.uk.msn.com