Changes Proposed for Buying and Selling a House

I can promise you that I am not exaggerating. However, if new proposals just released by the government come into effect, it’s fair to say that the process for buying and selling a house will eventually change out of all recognition.

First things first – a sanity check. These are currently just proposals, not new laws, and they are out to consultation until the end of the year. So, what eventually comes to pass may be different. As we all know, laws take many months (sometimes years) to come into effect.

However, the measures do go some way to addressing shortcomings in the ridiculously long and complex way we currently transact homes. I’m delighted to say they endorse some ideas which long-standing readers will know I have suggested in the past.

The context

The government says it’s been spurred into action. This is because the current process for buying and selling a house is slow and can cause heartbreak and expense for consumers.

Right now, it takes an average of 120 days to complete a sale even once the buyer’s offer has been accepted. This is 60% longer than in 2007. Even worse, around one in three transactions fall through, costing buyers and sellers around £400m per year in wasted fees. The current system also stops many people from even trying to move. They feel intimidated by the time and cost.

So, what does the government propose?

Upfront information packs

I’ve been a longstanding fan of these as I’ve seen too many sellers think they have sold a home. Only for a buyer to find a problem part-way through the process and pull out. Had that problem been spotted earlier, it could have been addressed quickly.

So now the government suggests that sellers work with conveyancers and surveyors before a home is put on the market to create an information pack. This pack would then be included with the listing on the property portals. And would be added to the agent’s details, which they give to would-be buyers.

This could include some details already made clear to sellers; the tenure, council tax band and Energy Performance Certificate rating, for example. Added to this could be new items like planning consents, improved floor plans and details of service changes.

Importantly, it could also include search information like local authority plans for the immediate area, utility information, and the most vital proposal of all. It could include what the government calls “a property condition assessment tailored to the property age and type”.

That means something like a survey, but commissioned by the seller not the buyer.

It’s not clear at this stage whether that would replace the survey commissioned by the purchaser, or be in addition to that. But the point is, such a report could tip-off a potential buyer about possible issues with a property before they even make an offer. Certainly well before they incur any cost.

Digital logbooks

The government says that if existing owners kept a running log of, for example, home improvements and planning consents, this information would not have to be assembled from scratch when a home is put on sale.

If this info was uploaded to standard digital forms online, they could be quickly downloaded by an agent. This would prepare that upfront information pack when a home is marketed.

The government plans to pilot this idea in an effort to expedite the process of buying and selling a house, beginning with new-build homes.

Binding conditional contracts

This is another concept that I think could work in consumers’ favour.

Binding contracts could be introduced to stop people walking away from agreements after buyers painstakingly spend months in negotiations.

Under today’s system, buyers or sellers can withdraw from a transaction any time between an offer being accepted and contracts exchanged.

Instead, the government suggests contracts could be used. This would make transactions binding at an early stage. If a buyer or seller withdraws after that, they would incur a financial penalty. For example, the loss of the buyer’s deposit. It believes that this could actually halve the number of transactions that collapse part way through. In so doing, it would relieve the stress that we all know is a big part of the current process.

Less red tape

The government believes that one of the major reasons why transactions take much longer is because of multiple checks of peoples’ identities and financial backgrounds. Right now, a buyer or seller needs to provide proof to at least three property professionals: conveyancers, mortgage lenders and estate agents.

Meanwhile, mortgage firms are making increasing demands on conveyancers to provide details about their clients and properties. This is made worse in the cases of some homes which have managed freeholds and service charges.

The government says: “We propose streamlining and simplifying conveyancing to ensure that consumers and professionals do not face unnecessary delays and duplication.”

Better information on property listings

The jargon in the property industry is ‘Material Information’. In theory, this is already compulsory for agents to provide when they list a home for sale.

Formally, agents are obliged to state any fact about a property that the average consumer needs to know to make an informed decision about buying it. This includes positive and negative aspects.

However, Trading Standards, which monitors estate agents, says only 35% of property listings on the key websites currently include all the information required. Shockingly, 10% of listings carry no material information at all!

So, the government is proposing to tighten this up and the consultation document on the subject asks property professionals for their views on how this can be done.

Estate agent training and qualifications

These ideas have been around for years, but governments have shied away from doing anything. At least, it seems, until now.

So, the government says it will introduce a Code of Practice setting out the minimum standards expected of all estate agents, lettings agents and managing agents. This is likely to involve mandatory training and qualifications, to drive up standards.

So, what happens next?

Well, let me remind you of the point I made at the start. These are all only proposals at this stage. Consumer groups, agents and other property insiders are invited to comment on them by the end of this year. In addition, there is only limited detail about many of the proposals.

The government says it will consider the responses. Next year, it will release firmer proposals which will go to Parliament and – eventually – become law.

I should issue one word of caution. Several of these ideas were floated a long time ago, back in 2010, and some were very unpopular with property professionals. They were scrapped in 2012 because some proved unworkable or had unintended consequences.

But we live in a very different age now, which is much more consumer focussed. Homes and the cost of moving are much more expensive, too. Therefore, I believe there is greater momentum behind reform than in the past.

Most of all, there is immense frustration at the inefficiency of the current system. So, there’s a greater chance of at least some of these proposals making it to the statute books. Most importantly, creating a simpler and quicker way for us to buy and sell.

Last Updated: October 7th, 2025