Key changes proposed under the home buying reform UK
Here are the main proposals from the government’s consultation:
1. Upfront property information:
Sellers may be required to provide standardised property information when listing their property. This could potentially include environmental/local authority searches, property condition assessment, title/tenure details (leasehold terms, service charges), and chain status. This information would help buyers know what to expect before making an offer and therefore decrease the number of transactions that collapse later down the line.
2. Professionalising property agents:
Proposals include creating a Code of Practice for estate, letting, and managing agents, setting out minimum standards and possibly new qualification requirements. This would help to raise the standards of service offered by residential property agents and increase transparency/consumer understanding of service.
3. Digital property logbooks and packs:
The reform proposes to move to digital-first property transactions, digitising historic and current property information making it easier and quicker for homeowners, agents and conveyancers to access and share.
4. Earlier binding conditional contracts:
The proposals also include bringing forward the point at which a sale becomes legally binding. Currently, buyers and sellers can withdraw from a transaction without penalties up to the point of exchanging contracts. By moving this commitment earlier, the reform aims to create financial accountability sooner, helping to reduce late-stage withdrawals and make property transactions more reliable. The government notes that buyers should not be expected to commit without access to detailed upfront property information.
5. Increasing customer education and transparency:
The process of buying and selling property can be overwhelming and confusing. The government therefore proposes that property service providers (e.g., estate agents and conveyancers) be required to publish transparent information about their specialisms, performance, and process steps, making it easier for consumers to compare services.
6. Streamlined digital-first processes:
Over the years, property transactions have become more complex and now take around 60% longer than they did in 2007. This is partly due to additional regulatory checks, such as anti-money laundering (AML), and more complex property titles, particularly for leaseholds or flats. The reform aims to simplify the UK conveyancing process using digital tools and AI technology, reducing unnecessary delays and duplication of work, and helping both buyers and sellers’ complete transactions more efficiently. As part of the Simplify group, we’re already investing in AI to streamline processes such as ID and AML verification, and are continually exploring new ways to use technology to make every stage of the move faster and smoother.
7. Leasehold sales information:
Building on the Leasehold and Freehold Reform Act 2024, the government proposes clearer standards, time-limits and fee caps to help reduce the time and cost of selling leasehold properties.
)
)
)
)
)
)
)
)
)
)
