The Government has announced a package of reforms intended to speed up the homebuying and selling process, reduce the number of transactions that fall through, and cut costs for buyers and sellers. The proposals centre on upfront sales packs, earlier binding agreements, and greater use of digital tools across the property transaction process.

According to the announcement, the changes are expected to cut around four weeks from the sales process and save first-time buyers an average of £650. The Government also says the reforms could halve the number of sales that fall through.

At present, the average home purchase is said to take around four months, or 120 days. One in three sales currently fall through, costing sellers around £400 million a year, while failed transactions are estimated to cost the wider economy up to £1.5 billion annually.

Sales packs at the point of listing

A central proposal is the introduction of sales packs, which sellers and estate agents would need to provide when a property is listed. These packs are expected to include key information about the property including:

  • Tenure type
  • Council Tax band,
  • EPC rating
  • Chain status
  • Deeds documents
  • Leasehold or service charge information
  • Verified seller ID
  • Building safety details
  • Standard search results
  • A property questionnaire
  • A condition assessment report
  • Floor plans
  • Accessibility information.

The aim is to give buyers clearer information earlier in the process and allow conveyancers, surveyors, lenders and other property professionals to begin work sooner. The Government says trusted digital property information should be shareable securely between professionals and accessible to buyers and sellers in real time.

Earlier binding agreements

The reforms also include earlier binding agreements, intended to stop buyers or sellers walking away months into negotiations without a legitimate reason. The Government says fines could apply where parties withdraw without good cause, although ministers are expected to work with the industry on suitable penalties and exception clauses over the next couple of years.

This element will require new legislation. The Government says legislation will be introduced when parliamentary time allows and will come into force after sales packs are introduced, and by the end of this Parliament.

Agent standards and digital tools

A new Code of Practice is expected later this year, setting out minimum standards for property agents and guidance to improve the quality of information in property listings. The Government has also said there will be consultation from 2027 on mandatory qualifications for estate and letting agents, alongside expanded digital tools.

The package also includes support for digital identity checks, electronic signatures, digital property logbooks and AI-assisted conveyancing. The Government says these measures are designed to reduce duplication, lower fraud risk and make transactions faster from start to finish.

Industry Response

Housing Secretary Steve Reed said: “Buying or selling a home should be one of life’s great moments and not a drawn-out nightmare of delays, hidden costs, and failed deals.  

“These changes will make the system faster, fairer, and more secure.”

The proposals have received support from several parts of the property sector, including estate agency, mortgage and licensed conveyancing representatives. Supporters point to the potential benefits of greater upfront information, clearer commitments and improved digital systems.

Phil Spencer, Property Expert & Move iQ Founder, says: “For as long as I’ve worked in property, one of the biggest frustrations I’ve heard from buyers and sellers is that the process simply doesn’t work as well as it should. It can be slow, stressful and uncertain, with too many transactions falling through after months of time, effort and expense.

“I welcome these proposals – they address many of the issues consumers have been grappling with for years, from a lack of upfront information to unnecessary delays and last-minute surprises. Giving people a clearer picture from the outset and creating greater certainty throughout the transaction process can only be a positive step.”

Henry Jordan, Nationwide’s Group Director of Mortgages, says: “Buying a home can often be a slow, complex and stressful process, so we welcome the government’s proposals. They are a major milestone in the efforts to simplify and streamline the homebuying process.

“Speeding up homebuying isn’t just about convenience – it’s about helping more people complete their purchases with less frustration and fewer surprises along the way. Giving buyers key information upfront, at the point a property is listed, has the potential to transform the process – reducing unnecessary delays and giving people greater confidence to move quickly.

“We look forward to working with government and the wider industry to implement these proposals and deliver a simpler, faster and more transparent homebuying experience for everyone.”

However, some legal sector figures have raised concerns. Criticism has focused on whether sales packs will be reliable enough to make a meaningful difference, whether the reforms risk repeating problems associated with Home Information Packs, and whether conveyancers could face new burdens linked to digital systems and professional liability.

David Smith, a property lawyer and partner at Bishop & Sewell, questioned the scale of the expected time saving, saying the Government’s plan would reduce the current average conveyancing period from around 17 weeks to 13 weeks. He also warned that sales packs would need to be structured in a way that buyers and professionals could rely on if they were to have significant effect.

Stephen Larcombe, founder of the Property Lawyers Alliance, was more critical, describing the proposals as “a charade” and warning that the reforms could be shaped too heavily by law technology businesses rather than conveyancing professionals.

There is not a single view across the legal sector. The Council of Licensed Conveyancers has backed the reforms, while the Conveyancing Improvement Collective has said it supports reform in principle, provided any changes improve the client journey and protect the integrity of the legal process.

Timeline

The Government says the reforms will be phased in across the rest of this Parliament.

  • Later this year, a non-statutory Code of Practice is expected for property agents.
  • From 2027, there will be consultation on mandatory estate and letting agent qualifications and expanded digital tools.
  • By the end of Parliament, comprehensive legislation is expected to require sales packs, binding contracts and digital systems for sharing trusted property information.

For landlords, buyers and sellers, the main practical question will be how the proposals are implemented. The reforms could mean more information being required before a property is marketed, earlier commitments during a transaction, and greater reliance on digital systems across the buying and selling process.