(qlmbusinessnews.com . Tue 7th Oct, 2025) London, UK —
New UK Property Rules to Make Sellers Share Essential Details Earlier: What Buyers Need to Know
The UK government has announced ambitious plans for reforming the property purchasing system, promising to cut costs, minimise delays, and halve the number of failed transactions.
Under the new scheme, both sellers and estate agents will be required by law to disclose essential property details early in the sale process. Furthermore, the introduction of binding contracts could prevent last-minute withdrawals.
These reforms are projected to save first-time buyers an average of £710 and reduce the duration of typical property transactions by four weeks. However, sellers at the end of a chain might face an increase in upfront costs by about £310. While the initiative has been largely welcomed, some experts are calling for further clarity on the proposals.
Efforts to mandate upfront disclosure of key property information were previously attempted through home information packs but were abolished after concerns were raised about their impact on market dynamics.
The challenge of housing affordability continues to be a significant hurdle for many prospective homeowners, particularly those looking to buy their first home.
The proposed changes aim to address the extensive frustration with the current system—characterised by slow administrative procedures, the risk of gazumping, and chain collapses—predominantly in England and Wales, where transactions can take up to six months to complete.
Drawing from practices in other jurisdictions, such as Scotland's more informative and prompt contracting process, the UK government's 12-week consultation seeks to enhance transparency. This move is expected to bolster confidence among buyers, especially first-timers, and mitigate the chances of deals falling through.
Housing Minister Miatta Fahnbulleh highlighted that making sellers responsible for obtaining house surveys would provide buyers with comprehensive information upfront, reducing the likelihood of repeated transactions due to previous sales failing.
While housing is a devolved matter, the government is keen on feedback from across the UK, indicating that the scope of the proposals will be determined by the outcome of the consultation period.
Among the planned changes is the exploration of “long-term” binding contracts to drastically reduce failed transactions, which currently cost the UK economy an estimated £1.5bn annually. Details on the enforcement of these contracts, including potential fines for withdrawal, are yet to be specified.
To elevate professional standards within the housing sector, a new Code of Practice for estate agents and conveyancers is proposed, alongside performance data to aid buyers in selecting reputable professionals.
The government pledges to reveal more details in the coming year as a part of its wider housing strategy, aiming to construct 1.5 million new homes.
However, Conservative shadow housing minister Paul Holmes cautioned that these reforms risk echoing the shortcomings of the previous Labour government's Home Information Packs, which he argued had deterred sellers and duplicated costs.
The announcement coincides with the Conservative Party's conference in Manchester, where changes to tax policies beneficial to first-time homebuyers are being discussed, including a proposed £5,000 tax rebate for young individuals entering the workforce.
Critics and industry professionals have expressed mixed reactions. Kirstie Allsopp of Channel 4's Location, Location, Location welcomed the government's initiative, whereas Babek Ismayil of OneDome cautioned against potential delays in property listings due to increased upfront information requirements.
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