Overview of the proposed reforms
A government-led consultation is examining a major shake-up of the house-buying process designed to make it cheaper, faster and easier for buyers. The package could trim about a month from the typical journey to moving home and save first-time buyers around £710 on average. It also considers extending more upfront information from sellers and agents, reducing the need for extensive searches and surveys for some buyers.
The core idea is to create a smoother flow of information and binding commitments earlier in the process. By requiring more complete disclosures when a property is listed and by potentially making contracts binding at an earlier stage, the risk of a chain collapse could be reduced. The reforms are framed as a way to turn the housing dream into a clearer, less stressful reality for many households.
What could change for buyers, sellers and agents
Key proposals would encourage sellers and estate agents to provide more comprehensive information at listing time. This could include data on property history, indicative costs, and the track record of conveyancers involved in the sale. The goal is to cut back on the information gaps that often lead to delays, miscommunication, or duplicated searches later in the process.
Another major element is the potential introduction of earlier binding contracts. If introduced, buyers might lock in terms sooner, reducing the chance of a failed sale due to a collapsing chain. This shift could bring greater certainty, particularly for buyers in competitive markets.
Standards, qualifications and transparency
The consultation also contemplates clearer information for consumers about estate agents and conveyancers, including their track records, experience, and areas of expertise. Alongside this, there could be new mandatory qualifications and a code of practice aimed at raising professional standards across the industry. The intention is to help buyers and sellers navigate the process with greater confidence and fewer surprises.
Technology and international comparisons
Officials point to potential benefits from increased use of online processes, including digital identity verification, which could help streamline transactions. The government references international examples, notably Finland’s digital real estate system, which can complete a sale in around two weeks. The Scottish system is also cited as an influence, with more upfront information and earlier binding contracts in certain circumstances.
Industry reaction and next steps
Property websites and lenders have broadly welcomed the initiative as a long overdue modernization. Rightmove’s chief executive described the current process as fragmented and costly, advocating speed, connected data and simpler procedures. Santander echoed the sentiment, emphasizing the need to modernize a cornerstone of the economy.
Critics argue that without careful design, reform could replicate past missteps. The Conservative party warned against repeating past experiences with Home Information Packs, which they say reduced the number of homes on sale and added costs. Labour has supported digitization and speed but acknowledged the risk of unintended consequences if reforms are not well-calibrated.
What happens next
The government will publish a full roadmap in the new year after completing the consultation. Officials say the plan aims to provide clearer expectations, reduce uncertainty, and help households focus on starting the next chapter of their lives rather than navigating a maze of procedures.
Why this matters
For buyers, sellers and agents alike, the proposed changes could deliver a faster, cheaper, and more transparent market. If adopted, the reforms would shift how information is shared, how contracts are scoped, and how professionals are supported through the process, potentially reshaping a fixture of the national economy.
