Builder Bovis says got better deals on land prices after Brexit vote

(Recasts, adds details)

LONDON, Aug 15 (Reuters) - British housebuilder Bovis Homes (LSE: BVS.L - news) said on Monday it had renegotiated some land deals after Britons voted to leave the European Union, cutting the price it paid and factoring in a greater level of potential risk.

The 131-year-old firm, which has focused on more affluent regions in the south of England where property prices tend to be higher, also said demand had bounced back after a brief fall following the June 23 referendum.

Property was one of the first sectors hit by the Brexit vote with several commercial funds closed due to investors pulling out their money and some housebuilders have also said they are reassessing land purchases, their biggest expense.

Bovis, whose first-half pre-tax profit rose 15 percent to 61.7 million pounds ($80 million), said it had renegotiated some deals it was about to make before the vote.

"We had around six transactions that were approved internally just prior to the half year," CEO David Ritchie told Reuters.

"We've gone back and discussed with the vendors a risk-adjusted view on life which will bring the cost of that land lower and in most of those cases, those vendors have been understanding of our position."

The firm does not operate in London which is likely to be hardest hit by any slowdown caused by Brexit, due to the large number of foreign buyers and a higher proportion of the most expensive homes.

Prices in the capital fell by a monthly 2.6 percent between July 10 and Aug. 6, according to property website Rightmove (LSE: RMV.L - news) , the largest drop of any region.

Bovis said it was too soon to assess the impact of the Brexit vote and this month's cut in interest rates on the housing market and that it had been pleased with the solid level of interest shown by homebuyers in recent weeks.

"Reservation rates have been affected by that first couple of weeks but in the last two to three weeks, we've seen the reservation rates improve back to a normal summer market," Ritchie said. ($1 = 0.7741 pounds) (Reporting by Costas Pitas; editing by Keith Weir)