Key takeaways:
- The Government has announced plans to reform the homebuying and selling process in England and Wales.
- Proposed changes include upfront sales packs, earlier binding agreements, higher standards for estate agents, and greater use of digital technology.
- The reforms aim to reduce delays, improve transparency, and lower the number of failed property transactions.
- The Government believes the changes could reduce average transaction times by around four weeks.
- First-time buyers could save an average of £650 if the reforms are introduced as planned.
- Most changes are proposals at this stage and will be introduced gradually over the coming years.
Why is the Government proposing changes to the homebuying process?
The Government has announced several proposed changes across the homebuying journey which aim to help tackle processes which can be slow, expensive, and lead to uncertainty for both buyers and sellers.
Property transactions often take several months to complete, with delays caused by heavy administrative work, missing information, and lengthy communication between multiple parties. Transactions can also fall through late in the process, leaving buyers and sellers facing additional costs and frustration.
The proposed reforms aim to improve transparency and help transactions progress more efficiently from the outset.
What has the Government announced?
The reforms focus on four key areas:
- More upfront information through sales packs.
- Earlier binding agreements between sellers and buyers.
- Raising professional standards for estate agents.
- Increasing the use of digital technology throughout the process.
Together, these reforms are intended to improve communication, reduce uncertainty and help transactions progress more smoothly.
More upfront information through sales packs
One of the headline proposals is the introduction of sales packs that would be provided when a property is listed for sale.
These packs would contain key details such as:
- Details about the property’s condition.
- Any leasehold charges (where applicable).
- Information about any property chain.
The aim is to ensure buyers have access to essential information much earlier in the process, rather than discovering potential issues weeks or months after making an offer and help reduce the number of transactions that fall through after an offer has been accepted.
For buyers, this could make it easier to make informed decisions from the outset.
For sellers, providing this information upfront may help attract more committed buyers and reduce the likelihood of problems emerging later in the transaction.
Earlier binding agreements
Under the current system in England and Wales, buyers or sellers can usually withdraw from a transaction up until contracts are exchanged. However, earlier binding agreements would make it more difficult for buyers or sellers to walk away without legitimate reason once they have committed to proceeding.
The intention is to:
- Provide greater certainty for everyone involved.
- Reduce the number of failed sales.
- Help transactions progress with more confidence.
According to previous Government consultations, reforms of this nature could significantly reduce fall-through rates by discouraging late-stage withdrawals.
However, the Government has indicated that binding agreements would only be introduced after buyers have access to more comprehensive upfront information, helping ensure decisions are made with greater confidence.
New standards and qualifications for estate agents
The Government is also looking at the role estate agents play in helping transactions progress smoothly.
Proposals include:
- A new Code of Practice.
- Clearer professional standards across the industry.
- Potential mandatory qualifications for estate agents.
Currently, estate agents in England are not legally required to hold professional qualifications before practicing. However, the Government believes clearer standards and improved training could help create a more consistent experience for buyers and sellers while supporting more efficient transactions.
Alongside these professional standards, technology is expected to play a significant role in modernising the homebuying process.
A move towards a more digital homebuying process
A major part of the Government’s plans involves greater use of digital tools throughout the homebuying and selling journey.
Proposals include:
- Digital property logbooks.
- Digital sales packs.
- Digital identity checks.
- Electronic signatures.
- AI-assisted conveyancing.
- Secure sharing of property information between professionals.
These tools aim to reduce paperwork, improve communication and, if implemented successfully, help create a more connected and transparent property market.
How could these reforms benefit buyers and sellers?
The Government’s overall objective is to make moving home faster, simpler and more predictable, but the benefits could include:
| Potential benefits for buyers | Potential benefits for sellers |
| Greater transparency before making an offer. | More committed buyers. |
| Fewer unexpected issues later in the process. | Reduced risk of late-stage withdrawals. |
| Lower risk of transactions falling through. | Greater certainty throughout the process. |
| Faster transaction times. | Quicker completions. |
The Government estimates that these reforms could reduce average transaction times by around four weeks and save first-time buyers an average of £650.
However, the extent of these benefits will depend on how effectively the reforms are implemented across the industry.
When could these reforms be introduced?
Although these reforms are currently proposals, the Government has outlined a phased approach to introduce these changes:
Late 2026
- Introduction of a new Code of Practice to set out minimum standards for property agents.
- New guidance to improve the quality of information in property listings.
From 2027
- Consultation on estate agent qualifications.
- Expansion of digital tools and systems.
Longer-term
The Government intends to introduce new legislation covering:
- Mandatory sales packs.
- Earlier binding agreements between buyers and sellers.
- Digital systems for sharing property information.
Binding agreements are expected to be introduced only after sales packs are in place, ensuring buyers have access to sufficient information before committing to a transaction.
What do property experts think about the reforms?
The proposals have been broadly welcomed across the property industry.
Many experts agree that the current homebuying process can be slow and prone to delays, with too many transactions falling through which can be costly.
Supporters of the reforms believe greater transparency, improved professional standards and better use of digital technology could help reduce some of the frustrations experienced by buyers and sellers.
Chairman, Partner and Head of Residential Sales at Greenslade Taylor Hunt, Simon Havens MNAEA MARLA, has said:
“These proposals are a welcome step towards creating a faster, more transparent and increasingly reliable home moving process. Anything that helps reduce delays, provide greater certainty and cut the number of transactions that fall through will be welcomed by both buyers and sellers as well as Estate Agents and other industry professionals.
At GTH, we will also embrace the Government’s focus on raising professional standards across the industry. Many of our residential team are already professionally qualified and regulated through bodies such as RICS and NAEA Propertymark, so we incorporate measures that promote expertise, accountability and consumer confidence.
For sellers, this means experienced advice from the outset, accurate marketing, thorough buyer qualification and proactive sales progression right through to completion. While legislation can help improve the framework, experienced agents still play a vital role in keeping transactions on track, identifying potential issues early and maintaining momentum across the chain.
The key now will be ensuring the reforms do not just remain ambitions but are implemented in a practical and sustainable way that deliver real benefits for customers and the wider property market.”
Many experts have also highlighted that successful implementation will be key. Industry collaboration, consistent adoption and practical delivery will ultimately determine how much difference these reforms make in practice.
Chair at the Home Buying and Selling Council, Kate Faulkner OBE, has 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.”
Our Associate Director of Mortgages, Nick Feetenby, commented:
“Given the current practices have been in place for a number of years, it simply can’t keep up with a modern society and the need for a swifter, more streamline approach to buying and selling houses.
We have seen great strides with lenders embracing technology in recent years, and it is positive news that these new proposals will mean that a system to support other areas of the transaction will also look to speed up and solidify the process.
At Cooper Associates, we are pleased to see some of these proposals being suggested and look forward to working with other industry professionals to make the whole process smoother and more efficient for our clients.”
How can Cooper Associates Mortgages help?
At Cooper Associates Mortgages, we believe getting a mortgage shouldn’t feel complicated or overwhelming.
Our award-winning team of advisers provide whole-of-market mortgage advice, giving you access to a wide range of options from across the market.
We take the time to understand your situation properly, so the advice you receive is tailored to you. Whether you are a first-time buyer, moving home or remortgaging, we are here to guide you every step of the way.
As the homebuying process continues to evolve, having expert advice in place can help you feel confident, informed and fully prepared.
Book your fee-free, no-obligation consultation today and discover how we can help you.
