Overview

• Ministers have opened consultations on reforms that would require sellers and estate agents to publish key information before a listing, including searches, property condition, leasehold costs and chain status.
• Buyers and sellers would have the option to enter earlier binding contracts, a step the government says could halve failed transactions.
• The plan advances digital property logbooks, digital ID verification and standardised data-sharing to speed up and secure the process.
• Professional standards would be raised through mandatory qualifications, a Code of Practice and side-by-side performance information for estate agents and conveyancers.
• Officials estimate the package could shorten transactions by about four weeks and save first-time buyers £710 on average, with roughly £310 in extra upfront costs for sellers; industry groups broadly welcomed the direction as Conservatives cautioned against repeating Home Information Packs.