Shake-up of housebuying and selling process announced by government 

Prime minister Sir Keir Starmer said: “Getting the keys to a home you can call your own is one of the biggest events in anyone’s life.

“But right now, the system that should provide support instead turns it into a battle, leaving people in limbo and putting that opportunity out of reach. 

“We’re turning the page. Our reforms will bring this outdated process into the modern age, saving people time and money, and giving them the certainty they deserve. 

“This is about building a stronger, fairer Britain, one that works for the next generation and makes the dream of homeownership a reality for many more hard-working people.”

According to government estimates, the average home purchase takes around 120 days; one in three sales fall through, costing sellers around £400m per year; and failed transactions cost the economy up to £1.5bn every year.

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 – giving families and first-time buyers the certainty they need all while saving them time and money.”

At the heart of the reforms is a major shift to digital, replacing paper-based systems with faster, more reliable tools.

Digital property logbooks and sales packs will allow trusted information to be shared securely between professionals and accessed by buyers and sellers in real time, cutting out the back-and-forth that causes so many delays.

The government will also back digital identity checks, electronic signatures and AI-assisted conveyancing to strip out duplication, reduce fraud risk and accelerate transactions from start to finish.

Chancellor Rachel Reeves said: “Delays, hidden costs and deals collapsing at the last minute are not only bad for homebuyers, it’s bad for the economy too.

“Our reforms will cut those delays, cut costs and make the process quicker and more reliable – getting more people on the housing ladder while keeping more money in their pockets.”

Lesley Horton, the UK’s chief property ombudsman, welcomed the proposals.

She said: “For too long, buyers and sellers have faced uncertainty, delays and avoidable transaction failures. These reforms represent an important opportunity to improve confidence at every stage of the process.

“We recognise that the proposals, if fully implemented, will change expectations on sellers in particular. Consumers will need support in understanding those new expectations, and therefore there will be an increased role for estate agents to support sellers and buyers through the process. 

“If implemented carefully and supported by clear guidance and appropriate training, these reforms can create a home buying and selling system that is faster, fairer and better equipped to meet the needs of consumers in the years ahead.”