Vol. 541 No. 5
228 Mr. Naughten asked the Minister for the Environment and Local Government the plans he has to reform the homebond scheme to ensure the protection of purchasers of new homes; and if he will make a statement on the matter. [23367/01]
A number of improvements have been made to the operation of the homebond scheme – previously known as the national house building guarantee scheme) since its establishment in 1978. These include: a two year defects warranty to protect the purchaser in the event of water and smoke penetration in the two years after completion, introduced in 1990. Previously no warranty was provided for; the warranty to protect the purchaser in the event of structural faults developing in the home was extended from six to ten years in January 1995. This warranty was also extended to cover refurbished dwellings from 1 July 1999, where work commenced on or after that date; financial indemnities to protect purchasers against loss of deposits or stage payments through the bankruptcy or liquidation of the builder were also introduced in January 1995 and; a system for assessment of minor complaints was introduced with effect from 1 January 2001.
Improvements to the scheme are primarily the responsibility of the National House Building Guarantee Scheme Company Limited, which administers the homebond scheme. I have no proposals, at this time, to ask the company to review the operation of the scheme.
