Bovis Homes

Bovis Homes have announced that they are allocating a further £3.5m to address issues surrounding the build quality of their homes following a series of complaints from tenants.

The housebuilding giants announced in earlier this year that they would slow rate of production in order to focus more on ensuring the homes built are up to scratch.

Complaints soon made the headlines when customers began reporting multiple cases of newly built homes being handed over in an unfinished or unsatisfactory state in a bid to meet high sales targets.

The additional £3.5m will take overall budget for fixing legacy issues to to £10.5m.

In their FTSE 250 statement, the company commented “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.”

Group CEO, Greg Fitzgerald said the company’s performance in the first half of the financial year was in line with management expectations: “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.”

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