The UK government has unveiled a series of reforms designed to accelerate the homebuying process by requiring sellers to provide key information to prospective buyers before listing a property. The proposed measures aim to reduce the average 170-day gap between an accepted offer and transaction completion, which has been a source of considerable frustration for buyers and sellers alike.

Central to the reforms is the introduction of mandatory "sales packs," which sellers must prepare in advance. These packs are expected to include detailed information on the property’s condition, local authority searches, any leasehold costs, and the home’s position within a sale chain. By presenting comprehensive data early, the government hopes to improve transparency and allow buyers to make more informed decisions before entering into contracts.

The reforms also seek to bring binding agreements into effect at an earlier phase of the transaction. These conditional contracts will define the terms of sale and purchase, with financial penalties imposed if either party backs out without a valid reason. This approach intends to tackle the long-standing problems of gazumping—where a seller accepts a higher offer after agreeing to sell—and gazundering, when a buyer pushes for a lower price late in negotiations.

Government research indicates that approximately one-third of property transactions collapse before completion, leading to an estimated annual loss of £400 million in costs for all parties involved. The reforms are projected to save first-time buyers an average of £650 by reducing these costly fall-throughs.

Prime Minister Sir Keir Starmer emphasized the need for change, stating that the current system leaves buyers and sellers in a prolonged state of uncertainty. “Our reforms will bring this outdated process into the modern age,” he said, highlighting how the measures are intended to support, rather than hinder, homebuyers.

In addition to earlier binding commitments, the government plans to introduce digital property logbooks and sales packs that will enable streamlined information sharing among industry professionals and transparency for buyers and sellers. The use of digital identity verification, electronic signatures, and AI-assisted conveyancing is expected to eliminate redundant steps and lower the risk of fraud.

Officials pointed to international examples such as the Netherlands, Norway, and Finland, where similar modernized systems have been implemented. In the Netherlands, a live transaction tracking system has reduced the average completion time to 20 days, demonstrating the potential benefits.

Jonathan Hopper, chief executive of Garrington Property Finders, welcomed the reforms, noting that delays act as “silent deal killers” due to opportunities for doubt and competing offers to arise during prolonged negotiations. He added that England and Wales remain unique among developed housing markets in withholding full property details until after buyers commit, and that these reforms will finally address that issue.