The Consumer Code for Home Builders was established in 2010 to ensure that all new homebuyers are fairly treated and provided with reliable and accurate information about their purchase. During a recent review, a number of amendments were made. They are explained below.
Clarification of ‘the Code’, and ‘The Code Scheme’
It is now understood that ‘the Code’ only consists of 19 enumerated ‘requirements’ while the ‘Code Scheme’ contains more in-depth explanations and introduces the dispute service. The latter must provided to the homebuyer with the reservation agreement and their legal representative with the draft sale contract.
‘Home Buyer’ and ‘Customer’ Definitions
These two statuses are now separate and different, with a customer becoming a home buyer when they formally enter into a reservation agreement.
Any needs of vulnerable customers should always be considered. For example, if a older customer needs assistance in understanding documents, they are entitled to assistance from a family member.
The Code Scheme logo must be displayed prominently in sales brochures and in both homebuilders’ and sales agents’ offices.
The Code is working with leading industry organisations to improve online training for staff in homebuilder and estate agent offices.