New research reveals nearly two thirds of consumers in Milton Keynes and Bedfordshire are facing hidden costs when making a purchase, which can include a new home
The New-build Homes: Quality Standard cements L&Q’s commitment to delivering quality as standard across its new developments in Milton Keynes and Bedfordshire to ensure residents have homes and neighbourhoods they can be proud of at no extra cost.
The announcement comes as research reveals nearly two thirds of consumers in Milton Keynes and Bedfordshire have faced a hidden cost when making a common purchase, and that the housing sector is one of the worst offenders for not being up front about hidden costs.
One of the UK’s leading charitable housing associations, L&Q, has today announced the launch of its New-build Homes: Quality Standard, which sets out L&Q’s key commitments to new residents, to ensure that everyone gets a quality home without having to pay extra.
The announcement comes as research commissioned by L&Q reveals that nearly two thirds (61%) of consumers in Milton Keynes and Bedfordshire have faced hidden costs when making a purchase.
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. In Milton Keynes and Bedfordshire, the housing sector is perceived as one of the worst offenders when it comes to hidden costs with developers, housing associations and estate agents making up 26% of the types of businesses named by respondents. Other businesses include ticket websites (37%), airlines (34%) and car dealerships (25%).
By launching its New-build Homes: Quality Standard, L&Q hopes to address residents’ concerns over hidden costs associated with 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 a home, L&Q will continue to manage the home and neighbourhood – with its residents every step of the way. L&Q’s New-build Homes: Quality Standard articulates this quality mark across its homes, neighbourhoods, customer and support services 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.”
“This is particularly important as we expand our geographical focus into Milton Keynes and Bedfordshire, where we have plans to bring high-quality affordable homes and significant community investment and support.”
L&Q has ambitious plans to deliver 100,000 new homes across the UK over the next ten years, at least 50% of which will be genuinely affordable. As part of this, the charitable housing association is expanding its geographic remit into Milton Keynes and Bedfordshire, an area where there is a particular need for affordable housing.
L&Q is already active in Milton Keynes and Bedfordshire with ambitions to provide 2,000 homes across the county over the next five years, of which at least one third will be affordable. Launching this month, L&Q at Saxon Reach will feature a collection of 225 1 and 2 bed apartments and 2-5 bed houses in Milton Keynes and launching in October, L&Q at Willow Grove will feature 124 2 and 3 bed homes, in the Bedfordshire countryside. Saxon Reach will offer a range of private sale and Shared Ownership homes, Willow Grove and L&Q at Willow Grove will offer Shared Ownership homes.
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 its L&Q Meets Roadshow to discuss how everyone can benefit from a quality home.
For more information on L&Q’s New-build Homes: Quality Standard, please visit www.lqgroup.org.uk/about/media-centre/news/details/233