L&Q launches New-build Homes: Quality Standard to protect residents from hidden costs
New research reveals nearly half of UK consumers are facing hidden costs when making a purchase, which can include a new home
- The New-build Homes: Quality Standard sets out L&Q’s commitment to delivering quality as standard across its new developments, ensuring residents have homes and neighbourhoods they can be proud of at no extra cost.
- The announcement comes as research reveals nearly half of UK consumers have faced a hidden cost when making a common purchase and of these, more than one in ten when purchasing a new home.
- To read the Standard, please click here.
One of the UK’s leading charitable housing associations, L&Q, has today announced the launch of its New-build Homes: Quality Standard. This sets out L&Q’s key commitments to its new residents, ensuring that everyone gets a quality home without having to pay extra.
The announcement comes as research commissioned by L&Q reveals that nearly half (47%) of UK consumers have faced hidden costs when making a common purchase and of these, more than one in ten (13%) when purchasing a new home. For those who faced hidden costs when buying a new home, the most common items listed were white goods i.e. washing machine and dishwasher (30%), flooring or carpets (23%) and kitchen appliances (20%).
Other common purchases that have come with a hidden cost include plane tickets, broadband and mobile phone contracts, all of which are squeezing consumers’ finances. Businesses perceived to be the worst offenders when it comes to hidden costs include airlines (22%), ticket websites (21%) and estate agents (17%).
By launching its New-build Homes: Quality Standard, L&Q hopes to address residents’ concerns over hidden costs associated with buying a new home. The Standard ensures all L&Q sale homes are ready for occupation with no hidden charges, including essential fixtures and fittings such as kitchen appliances and white goods.
Once a buyer purchases an L&Q home, L&Q will continue to manage the home and neighbourhood, supporting its residents every step of the way. L&Q’s New-build Homes: Quality Standard articulates this quality mark across its new homes, neighbourhoods and construction practices. The key features of the Standard are:
- High quality specification throughout;
- A spacious and comfortable home;
- An innovative approach to design and placemaking;
- A healthy environment;
- A long-term partner for our communities.
Fiona Fletcher Smith, Group Director of Development and Sales at L&Q said:
“We’re delighted to launch our New-build Homes: Quality Standard, which reinforces our vision that everyone should have a quality home they can afford.”
“Our research demonstrates that all too often people are stung with hidden costs, including when purchasing a new home. As a charitable housing association, we understand the importance of a great home, and the benefits this can have for people’s lives.”
“For many, buying a home is one of the most important financial decisions they will make. We support our customers every step of the way and believe that everyone deserves to move into their home without having to pay extra. Our New-build Homes: Quality Standard will ensure our residents can do just this.”
L&Q has ambitious plans to deliver 100,000 new homes across the UK over the next 10 years, at least 50% of which will be genuinely affordable. As part of this, the leading housing association is expanding into new areas where there is a particular need for affordable housing including – Milton Keynes and Bedfordshire, Essex, Cambridge and Warwickshire.
As a charitable organisation, L&Q’s role goes beyond providing homes and housing services. L&Q’s £250 million charitable Foundation is developing bespoke community investment strategies for each region, which will be announced later this year. The housing association has been working with local people every step of the way, visiting community events via it’s L&Q Meets Roadshow to discuss how everyone can benefit from a quality home.