Overview

• The Home Buying and Selling Reform consultation proposes mandatory upfront property information at listing, optional earlier binding contracts and a push for digital property records.
• Officials estimate transactions could complete about four weeks faster, with average savings of £710 for first-time buyers, about £310 extra upfront for sellers and a roughly £400 net gain for movers in the middle of a chain.
• The package aims to halve failed transactions, which the government says cost the economy £1.5bn a year, by reducing last‑minute surprises and offering the option to commit legally earlier.
• Plans include digital ID checks, standardised data sharing and property logbooks, plus mandatory qualifications, a new code of practice and published performance records for agents and conveyancers.
• Rightmove, Zoopla, Santander and Nationwide welcomed the proposals, while Conservative critics warned of a repeat of scrapped Home Information Packs; the consultation runs for 12 weeks with a roadmap promised in the new year.