The government has announced sweeping reforms to the homebuying process designed to save families time, money, and heartache.
Labour has unveiled plans to overhaul England’s outdated homebuying system — a move ministers say will “end the chaos and hidden costs” facing thousands of families each year.
Under the new proposals, sellers and estate agents will be required to provide key information upfront, including property condition, leasehold charges, and details of housing chains. The aim is to reduce the number of collapsed sales — currently around one in three — by cutting uncertainty and improving transparency.
The government is also exploring binding contracts to prevent sellers from pulling out late in the process after months of negotiation, potentially halving the number of failed transactions.
According to the Political Office in Number 10, the changes could save first-time buyers an average of £710 and speed up completions by as much as four weeks.
“We’re making home ownership fairer and more secure for working people,” a Downing Street spokesperson said.
The reforms are the latest in Labour’s Plan for Change, aimed at delivering stability and security for first-time buyers and families across Britain.
