Redrow makes house price promiseRedrow makes house price promise
Redrow has announced a house price pledge at a time when interest rates and house prices are the focus of increased media attention.
In order to emphasise its positive long-term view of the market, Redrow has made a house price protection promise known as re:assure that helps to protect the value of its new homes for up to three years.
If a Redrow homeowner sells their new home during the qualifying period but receives less than they paid, the housebuilder will refund the difference up to ten per cent of the original purchase price.
Redrow's marketing director Simon Bennett said: "This is about giving confidence to home buyers who have found themselves in a somewhat uncertain place.
"We have confidence in the long-term value of our homes and the benefits associated with owning a brand new Redrow home."
In addition, Redrow said it may also be able to provide a "substantial" mortgage subsidy for the first two years for struggling homeowners.
Earlier this month, campaign group Firstrung warned that house prices could decline by up to 35 per cent over the next three years. 