Homebuying shake-up to slash delays, cut costs and stop sales falling through

Buying and selling a home is set to become faster, cheaper, and less stressful under major reforms unveiled today (Friday 19 June) to cut delays, reduce and digitalise paperwork, and stop sales collapsing.   

At a time when families are feeling the squeeze, new changes will cut homebuying times by around four weeks, save first-time buyers an average of £650, and stop the nasty surprises that cost time, money, and heartbreak. This will ensure the chance to own a home isn’t determined by who can afford to take the biggest risk. 

Sellers and estate agents will have to provide key information upfront in ‘sales packs’ at the point of listing. This will set out a home’s condition, leasehold costs, and chain status so buyers can make informed decisions, and property professionals can get to work sooner – while creating a fairer, more transparent process for everyone involved. 

Changes will also see new earlier binding agreements to stop parties walking away months into negotiations without a legitimate reason. This will help to give young people confidence in the system and better plan for their next steps, not put them on hold. 

In addition, a new Code of Practice will raise standards for estate agents, alongside proposals for mandatory qualifications for the sector which could ensure agents are properly equipped to support efficient transactions and rebuild trust in the sector.   

With the average home purchase taking around 120 days, one in three sales falling through costing sellers around £400 million per year, and failed transactions costing the economy up to £1.5 billion every year – these reforms will fix a broken system.  

At the heart of the reforms is a major shift to digital – replacing the outdated paper-based systems with faster, more reliable tools.   

Digital property logbooks and sales packs will allow trusted information to be shared securely between professionals and accessed by buyers and sellers in real-time, cutting out the back-and-forth that cause so many delays.   

The government will also back digital identity checks, electronic signatures and AI-assisted conveyancing to strip out duplication, reduce fraud risk and accelerate transactions from start to finish. Together, these changes will create a modern, end-to-end system where people can track and progress their move more easily.   

Countries like the Netherlands, Norway, and Finland have already shown that reforms like these deliver real benefits for buyers, sellers and the industry alike.   

The Netherlands uses a live tracking system for buyers and sellers to check their transaction status helping to achieve a final completion time of 20 days on average, whilst Norway’s efforts to streamline and digitalise the system has estimated savings of up to £1.4bn over 10 years.  

This package will inject fresh momentum into the housing market and help people keep more money in their pockets by cutting the hidden costs and delays in buying a home to ease cost of living pressures and support a fairer housing market that works for ordinary families. 

Further information

A full roadmap to fix the broken system will be implemented across the rest of the Parliament. This includes:  

Later this year: a Code of Practice to set out minimum standards for property agents and guidance to improve the quality of information in property listings.   
From 2027: consultation on estate agent qualifications and expanded digital tools   
By the end of Parliament: comprehensive legislation to require sales packs, binding contracts, and digital systems that support the efficient sharing of trusted digital property information.  

This phased approach will give the sector time to adapt while delivering improvements as quickly as possible.  

Research identified in the HMLR Strategy 2025+ found fall throughs cost sellers around £400m per year across England and Wales.  

The £650 figure is derived by comparing first-time buyer costs per transaction pre-reform (primarily conveyancing and search costs) to post reform, additionally integrating additional costs that will arise for buyers as a result of the new reforms (e.g. purchasing logbooks) and the per transaction saving estimate that arises from the reduced number of transaction fall throughs. 

Binding conditional contracts make a transaction legally binding much earlier, for example once an offer is accepted. They are designed to secure each party’s commitment to progress and complete the transaction by setting out clear terms both sides agree to meet. If a party breaks these terms by withdrawing without valid reason or failing to meet their obligations, they face a financial penalty. 

This represents a fundamental change to the process, so further development is required to ensure this is delivered effectively. As we develop legislation we will work with industry to set fair penalty levels, define clear exception clauses, and establish dispute resolution processes. 

We are clear that this requirement will not come into effect until after sales packs are embedded. This will ensure buyers do not become unfairly bound to transactions without having access to key property information. This phased introduction will also allow sufficient time for the sector to prepare for this significant change. 

Stakeholder reaction

Andrew Asaam, Homes Director at Lloyds Banking Group said: 

Buying or selling a home is one of the biggest financial moments in people’s lives.  

There is a clear opportunity to simplify the process and provide greater certainty in what can be a slow and complex journey, where transactions sometimes fall through for reasons beyond people’s control. Alongside these welcome steps towards reforming the home buying and selling journey, we’ve launched the first digital homebuying pilot with Connells and LMS that could be a real game changer, cutting the back and forth to make it faster and less stressful, so people can move forward with confidence at every step.

Chris Rosindale, Chief Operating Officer at Connells Group said: 

We welcome the Government’s commitment to modernising the homebuying process. Making key property information available earlier and embracing digital solutions will help reduce delays, increase certainty and create a better experience for buyers and sellers. We believe in reform that makes the system faster, more transparent and more reliable, and are excited to play our part in this transformation of the homebuying process.

Paul Broadhead, Head of Mortgage and Housing Policy at the Building Societies Association said:

This is a significant step towards fixing the home buying process that is too often slow, uncertain and stressful. Better upfront information and smarter use of data and technology will help reduce failed transactions and give people greater confidence when moving home. 

These changes will be particularly important for first-time buyers, helping them navigate the complex process with greater certainty and confidence.  We look forward to working with government and industry to deliver these reforms.

Mark Evans, President, Law Society of England and Wales said:

It is in the interests of everyone that the home buying and selling process is improved. The government’s roadmap is rightly ambitious because to make long-lasting improvements the system needs to be reformed as a whole.   

The reforms proposed are a positive step towards creating a more efficient system with better informed consumers, and estate agents expected to meet good standards.   

How the different proposals are implemented will be key to the success of the reforms. Solicitors play a key role in home buying and selling and are ideally placed to assess how the proposals will work in practice. We welcome the opportunity to work with the government on how these proposals can be effectively adopted. 

Sheila Kumar, CEO, Council of Licensed Conveyancers said:   

The Council for Licensed Conveyancers strongly supports these reforms because they will deliver better outcomes for consumers and professionals alike. The CLC has a long history of championing innovation and modernisation in the legal services market, particularly where it improves the consumer experience, and we stand ready to play our part, working with Licensed Conveyancers to deliver these changes. 

It is now vital that all parts of the home buying and selling market – from estate agents and lenders to conveyancers, surveyors, managing agents and removal companies – work together to implement these reforms swiftly and effectively in the public interest. 

Most importantly, digitalised upfront information that can be shared with trust – especially when combined with reservation agreements – will greatly improve confidence in transactions and allow buyer and seller to agree a date for completion much earlier in the process than at present.  

This “speed to confidence” is the great prize of the industry’s efforts over many years, and we are delighted that the government has recognised its importance through this roadmap. It has the potential to make home buying and selling simpler, faster and more certain, while helping to remove a major barrier to the efficient use of the nation’s housing stock.

Nathan Emerson, CEO at Propertymark, said:

Propertymark is pleased to see the UK Government come forward with a phased roadmap to reform the home buying and selling process. For too long the process has been inefficient, costly and time-consuming. Propertymark data demonstrates that transaction times continue to trend upwards, prompting a sector wide appetite and ambition for much needed reform.  

A clear focus on professional standards, digitised and trusted information as well as the appropriate use of binding contracts will help to modernise and speed up home moves. A lack of upfront and timely information is regularly cited as being a major reason for transactional delays and a root cause of costly fall throughs. A phased implementation will ensure the sector has the capability and capacity to support the changes in a managed and staged way.

Justin Young, CEO at RICS said:  

Buying a home should be a straightforward and well‑informed process, yet too often it becomes uncertain and stressful. RICS welcomes the government’s focus on improving how homes are bought and sold, particularly steps to give people clearer information earlier and reduce transactions breaking down part way through. Getting the right information upfront, including a reliable condition report from properly qualified and regulated surveyors, will be essential.  

RICS has long worked in support of high standards in property agency. We look forward to working closely with government and industry partners to put consistent standards in place and make sure that the professionals delivering these services have the right skills and levels of accountability.  

We also need to make sure the sector has the capacity and skills to deliver these changes, including supporting smaller firms to play their part. Done well, these reforms can build trust, improve transparency and make the process work better for buyers and sellers. RICS stands ready to work closely with government and industry to drive meaningful, lasting improvements for homebuyers and sellers.

Kate Faulkner OBE, Chair at the Home Buying and Selling Council said:

Changing the way we buy and sell a home requires commitment and collaboration across government, industry, the media and consumers. The good news is that much of the groundwork has already been done, with the foundations in place to support the improvements announced by the Government today.  

What matters now is that the roadmap is not just another set of ambitions, but a practical plan that works for industry and consumers alike. Developed through consultation and delivered in phases, it gives everyone involved the opportunity to implement change in a way that is realistic, affordable and sustainable.  

With this roadmap, we can work more closely together to deliver greater transparency, increased certainty and reduced risk throughout the home moving process, helping consumers and home moving services benefit from a system that is clearer, faster and more reliable.

Maria Harris, Chair at the Open Property Data Association (OPDA) said:

We wholeheartedly support these commitments and the strategic roadmap that will improve the homebuying process for everyone. Putting consumers at the heart, and in control, of their property data and experience reflects the growing public support for safe and secure digital solutions.   

“The depth and scope of the reforms sets clear direction and next steps for the industry, giving the certainty and confidence that firms need to embrace a digitised future. Delivering these much-needed changes will not only fix the current broken process, they will transform the property industry and enable us to realise significant consumer and economic benefits.   

We look forward to continuing our collaboration with government and industry stakeholders on the design and implementation of the  standards that will underpin a modern, data-driven and more sustainable home buying and selling market.

Simon Brown, CEO at Landmark Information Group said: 

Today’s announcement marks an important step towards modernising the home buying and selling process. For years, transactions have been slowed by fragmented information, inconsistent standards and a lack of transparency, often leaving consumers facing costly, unnecessary delays and uncertainty.  

We welcome the Government’s focus on upfront information, digital property packs and Smart Data. These are essential foundations for a faster, fairer and more trusted property market and will enable the sector to unlock the real opportunity that lies in making trusted property information available earlier in the process and enabling it to be shared securely across the transaction chain.  

Looking ahead, success will depend on continued collaboration between the Government and industry to ensure trusted information can be shared consistently, securely and at scale. If we get that right, these reforms have the potential to improve the experience of moving home while unlocking significant economic benefits across the wider property market.

Stuart Haire, Chief Executive, Skipton Group, said: 

This is a welcome step for buyers and sellers, and an important move towards a more modern and reliable housing market.   

As a Group that helps people both buy and finance their homes, we see every day how delays, rising costs and failed transactions affect people trying to move forward with their lives. Better upfront information, earlier certainty and smarter use of data should help cut delays, reduce wasted costs and give buyers and sellers a smoother route to completion.  

For first-time buyers in particular, cutting weeks off the process and saving money will make a real difference to getting onto the housing ladder.”  

Paul Broadhead, Head of Mortgage and Housing Policy at the Building Societies Association said: 

This is a significant step towards fixing the home buying process that is too often slow, uncertain and stressful. Better upfront information and smarter use of data and technology will help reduce failed transactions and give people greater confidence when moving home.  

These changes will be particularly important for first-time buyers, helping them navigate the complex process with greater certainty and confidence.  We look forward to working with government and industry to deliver these reforms.

Paula Higgins, CEO of HomeOwners Alliance said: 

Buying and selling a home remains one of life’s most stressful experiences, despite being the biggest financial transaction most people ever make. These reforms have the potential to bring the process into the 21st century.  

Providing more information upfront, raising standards and embracing digital solutions should help reduce delays, fall-throughs, unnecessary costs and frustration for consumers. HomeOwners Alliance welcomes the government’s ambition and urges ministers to maintain momentum so buyers and sellers start to see real improvements as quickly as possible.

Neil Jefferson CEO at the Home Builders Federation said:

Moves to make the home buying and selling process more efficient such that it is quicker, more reliable and cheaper for home buyers and sellers alike are welcome. We will continue to work with Government to reform the current system that is unnecessarily bureaucratic and stressful for what should be the most exciting purchase of a person’s life.

David Morris, Head of Homes at Santander UK said:

MHCLG’s homebuying roadmap is an important and welcome step toward creating a faster, more transparent, and more resilient housing market.

Santander’s Fixing the Broken Chain report last year highlighted the significant impact that delays, uncertainty, and failed transactions have on both buyers and sellers. Beyond draining £1.5 billion from the economy annually, these issues erode time, trust, and confidence at every step of the process. Since publishing those findings, we’ve been working closely with MHCLG to better understand how to address these persistent challenges that lead to frustration for many and, in some cases, discourage people from engaging in the process altogether. This roadmap is the next stage in that work – tackling the issues identified with solutions ranging from increased digitisation to more transparent upfront information, helping to ease stress, speed up transactions and create a more seamless, dependable journey to owning a new home.