Tessa Spring

Buying a home is rarely just a financial decision. It’s about security, belonging, and creating a space that supports your life.

Through supporting people with moving home and life transitions, I’ve seen how much clarity, guidance, and practical support can help when making big decisions.

From that perspective, the government’s proposed reforms feel like a welcome step towards a system that is more transparent, less prone to fall-throughs, and ultimately more supportive for people navigating one of the biggest decisions of their lives.

What’s changing

The UK government has unveiled a significant reform to the homebuying process, aiming to save first-time buyers an average of £710 and reduce transaction times by around four weeks.

The overhaul seeks to address long-standing inefficiencies and provide greater transparency and security for homebuyers.

It also brings England and Wales closer to the Scottish system, which experiences far fewer fall-throughs and abandoned sales.

Key reforms:

1. Upfront property information
   Sellers and estate agents will be required to provide essential details about a property at the outset, including its condition, leasehold costs, and the status of any chains. This proactive approach aims to eliminate unexpected issues that can derail transactions.
2. Binding contracts
   The introduction of binding contracts will prevent parties from withdrawing from agreements after negotiations are complete, reducing the number of failed transactions – which currently cost the economy £1.5 billion annually.
3. Mandatory qualifications and codes of practice
   Estate agents and conveyancers will be subject to mandatory qualifications and adherence to a Code of Practice. This is designed to enhance professionalism and rebuild trust in the industry.

Why these changes matter

These reforms are much needed. By providing clearer upfront information, reducing fall-throughs, and introducing further professional standards, they create a more predictable, transparent, and fairer system for homebuyers. They also bring England and Wales closer to the Scottish model, which has shown that fewer failed sales benefit buyers, sellers, and the wider property market.

Trust and respect between all parties is fundamental to a positive homebuying experience. Surprises or hidden issues during a sale can quickly erode this trust, making an already stressful process feel even more difficult. These reforms aim to reduce the number of unexpected problems, helping all parties feel confident and respected throughout a transaction.

A positive step

The government’s proposed reforms are a positive step toward a smoother, safer, and more professional homebuying process, helping all parties to feel more at ease along the way.