Housebuilder Persimmon is to launch a retention scheme for its customers which would see an average of £3,600 held back by a homebuyer’s legal team if faults are identified at the point of purchase.

The firm is to draw up a new standard contract which could see 1.5% of the total home value, equating to around 6% of the build fabric costs, withheld by the buyer until any snags are fixed. 

Persimmon, which says it is the first major UK housebuilder to introduce such a scheme, said that based on its current selling prices the retained amount would be approximately £3,600 per home.