Jurisdiction(s):
United Kingdom

Key definition

Purpose definition

What does Purpose mean? In practice, Purpose describes the permitted activities and use of information in connection with a proposed or agreed standstill or restructuring. It is a contractual defined term, not set by legislation or case law, and its use is broadly consistent across England and Wales, Scotland, Northern Ireland and Ireland. Purpose means the evaluation, negotiation, documentation, monitoring and implementation of a standstill agreement or a restructuring agreement, together with ancillary steps reasonably necessary for that outcome. This typically includes due diligence; formulating and assessing proposals; seeking, granting and recording waivers or consents; preparing, amending and executing finance, intercreditor and security documents; coordinating...

New Homes Quality Code and Consumer Code: compliance via warranties and lender rules, developer obligations, and the Building Safety Act 2022 move to a statutory New Homes Ombudsman

Published by a LexisNexis Property expert

Practice notes

This Practice Note examines the New Homes Quality Code (NHQC) alongside the Consumer Code for Home Builders (Consumer Code). It outlines their principal elements, identifies those required to adhere to them, and explains their overarching objectives. It also contrasts their scope and intended Outcomes. Purchasers of newly built properties should confirm which code applies to their transaction.

Building Safety Act 2022 and the new homes ombudsman scheme

Under section 136 of the Building Safety Act 2022 (BSA 2022), the Secretary of State is empowered to set up a new homes ombudsman scheme. Section 142 of BSA 2022 further allows the Secretary of State to issue or endorse a code of practice covering expected standards of conduct and quality for scheme members. These measures have not commenced. However, the government indicated that the new homes ombudsman scheme would begin within 12–18 months of BSA 2022 receiving Royal Assent, which occurred on 28 April 2022...

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Web page updated on 21/05/2026

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