First-time buyers could save time, money, and stress under new government proposals to simplify the homebuying process.
The government has announced major reforms to make buying a home faster, cheaper, and less stressful — saving first-time buyers an average of £710 and cutting the process by up to four weeks.
The new consultation, launched today (Monday 6 October), aims to fix what ministers call a “broken” and outdated system that often leaves buyers frustrated, out of pocket, and waiting months for completion.
A simpler, fairer homebuying process
Under the new plans, sellers and estate agents will be required to provide key information upfront — such as the property’s condition, leasehold terms, and details of any moving chains.
This means buyers will have a clearer picture from the start and will be less likely to face unpleasant surprises that lead to last-minute collapses.
The government is also considering binding contracts, which would stop either side from pulling out after months of negotiation. This change alone could halve the number of failed transactions, saving buyers and sellers both money and heartbreak.
Housing Secretary, Steve Reed, said: “Buying a home should be a dream, not a nightmare.
Our reforms will fix the broken system so hardworking people can focus on the next chapter of their lives.
Through our Plan for Change we are putting more money back into working people’s pockets and making a simple dream a simple reality.”
Raising standards and rebuilding trust
The proposals also focus on improving transparency and trust in the housing market.
Families could soon compare estate agents and conveyancers side by side, seeing their experience, success rates, and qualifications. A new Code of Practice and mandatory training will be introduced to raise industry standards.
These reforms are expected to cut the number of failed sales in half, saving the economy up to £1.5 billion each year. A full roadmap outlining how the government plans to overhaul the system will be published early next year.
“Build, baby, build”
This move follows the Housing Secretary’s pledge to “Build, baby, build” — with an ambitious goal of constructing 1.5 million new homes and removing barriers that slow development.
Recent figures show encouraging progress, with housing starts up 29% compared to last year. The government says this is just the beginning of “the biggest era of housebuilding in our history.”
Industry reaction
Rightmove CEO Johan Svanstrom said:
“We welcome the announcement today aiming to drive forward that much needed change and modernisation. The development of technology means transformation is possible, with the right collaboration and considerate planning.
The home-moving process involves many fragmented parts, and there’s simply too much uncertainty and costs along the way. Speed, connected data and stakeholder simplicity should be key goals. We believe it’s important to listen to agents as the experts for what practical changes will be most effective, and we look forward to working with the government on this effort to improve the buying and selling process.”
Paul Whitehead CEO at Zoopla said,
“The homebuying process in the UK remains far too long, too complex, too uncertain and has seen far less digital innovation than many other sectors.
Consumers are clear in their desire for greater transparency and confidence when making life’s biggest purchase and improving the visibility of trusted information earlier in the buying process is a key part of speeding up the journey.
The property industry recognises the benefits that greater certainty and digital transformation could bring. Introducing legally binding contracts alongside better use of digital solutions has the potential to unlock significant demand and reduce failed transactions.
At Zoopla, we are committed to working closely with industry and government, and to investing our resources, to help build a modern property ecosystem that is faster, more transparent, and trusted by all.”
David Morris, Head of Homes, Santander UK said:
“At a time when technology has changed many processes in our lives, it is incredible that the process of buying a home – an activity that is a cornerstone of our economy – remains much the same for today’s buyers as it did for their grandparents. Our recent report, “Fixing the Broken Chain” highlighted how our antiquated system is holding back economic and individual growth, causing property transactions to collapse, and deterring buyers and sellers from entering the market at all.
This consultation reinforces our view that, as an industry, we have the opportunity to fix the system and now is the time to seize it. We’re ready to work together with Government and all those involved in the homebuying process to move this discussion into action and create a system fit for today’s buyers and sellers.”
Henry Jordan, Nationwide’s Group Director of Mortgages, said:
“Buying a home is often complex and stressful, which is why the homebuying process needs to be simplified and streamlined for the benefit of consumers, brokers and lenders. But to tackle this issue effectively, we must collaborate. That is why we look forward to working closely with government and the wider industry to modernise the homebuying process, so that buyers are given certainty earlier and to help reduce any unnecessary costs. The measures being consulted on, along with digitalisation and technology, are a major part of how we will get there”.
What’s changing
The consultation outlines several major proposals, including:
- Mandatory upfront information from sellers and agents — including tenure, EPC rating, council tax band, flood risk, and property condition.
- Digital tools like property logbooks and digital ID checks to improve speed and security.
- Binding contracts to reduce last-minute dropouts.
- Mandatory qualifications and a Code of Practice for estate and letting agents.
- Public information on estate agents and conveyancers, so buyers can choose trusted professionals.
Currently, the average sale takes over five months from offer to completion. These changes could cut that by around four weeks — and save thousands of failed sales each year.
Two consultations — the Home Buying and Selling Reform Consultation and the Material Information Consultation — are now open for feedback. They aim to clarify what information must be shared upfront and guide estate agents on how to comply with new consumer laws.