According to a BBC News report, the government has unveiled major reforms to simplify the homebuying process, save families money, and reduce the number of failed property transactions.
At GLP Solicitors, we’ve been following these developments closely and here’s what every buyer, seller, and property professional needs to know.
What’s changing in the homebuying process?
The government’s proposals aim to make buying and selling homes faster, fairer, and more transparent. Currently, around 1 in 3 property sales in England and Wales fall through, often costing buyers and sellers thousands of pounds in wasted fees. These reforms are designed to address that.
According to the BBC, the new system could save first-time buyers an average of £710 and cut transaction times by up to four weeks.
Key features of the proposed homebuying reforms
1.More information up front
Sellers and estate agents will be required to share key property details before a home is listed, such as:
- Leasehold terms and service charges
- Building condition or survey information
- Planning permissions and flood risks
- Energy Performance Certificates (EPCs)
- Chain status and council tax details
This “material information” requirement aims to reduce nasty surprises later in the process and help buyers make more informed decisions from the start.
2.Binding agreements earlier in the process
Under the new proposals, contracts may become legally binding much sooner, meaning both parties will be more committed earlier on.
This could help prevent last-minute withdrawals, a major cause of failed sales and financial loss.
3.Stronger standards for agents and conveyancers
The reforms will also introduce:
- A new code of practice for estate agents and managing agents
- Mandatory qualifications for professionals involved in property transactions
- Public performance data so clients can compare agents and conveyancers more easily
This is expected to improve service quality, professionalism, and consumer confidence across the housing market.
4.Digital transformation of property transactions
The government is also exploring the use of digital property logbooks, centralised databases, and shared verification systems to reduce duplication and delays.
By making data more accessible and secure, these tools could significantly streamline the conveyancing process.
Why these reforms matter
Currently, buying or selling a home in England and Wales can take over five months and cost both sides thousands in wasted fees if a sale falls through.
With these reforms, the government estimates potential savings of £1.5 billion a year across the housing market.
For buyers, that could mean less stress, faster moves, and fewer surprises.
For sellers, it means greater certainty and smoother completions.
And for professionals like solicitors and estate agents, a more transparent process could improve efficiency and trust.
What this means for buyers and sellers
While these proposals are still under consultation, it’s important to prepare for change.
At GLP Solicitors, we recommend:
- Buyers: Request key information (such as lease details and surveys) as early as possible to avoid delays.
- Sellers: Start gathering property documents now, including title deeds, EPCs, and maintenance records so you’re ready for new disclosure rules.
- Agents and conveyancers: Keep up-to-date with regulatory updates and consider how your workflows may need to adapt.
How GLP Solicitors can help
As experienced property law specialists, GLP Solicitors provide expert guidance throughout the buying and selling process. Our team ensures every transaction is handled efficiently, transparently, and in full compliance with the latest legal requirements.
We’ll continue to monitor the government’s consultation and update our clients as more details are confirmed.
For advice on conveyancing or property law changes, contact GLP Solicitors today. Our team can help you navigate these upcoming reforms and protect your interests at every stage.