Government Announces Major Homebuying Overhaul to Speed Up the Process by Four Weeks

Published by George Christou | Bournemouth Mortgages

The UK government has unveiled what it calls the biggest shake-up to the homebuying process in decades, aiming to make property purchases faster, fairer, and more transparent.

These reforms are designed to cut completion times by around four weeks, reduce the number of failed transactions, and help first-time buyers save an average of £710 when purchasing their first home.

What’s Changing in the Homebuying Process?

Under the proposed plans, sellers and estate agents will need to provide key information upfront before a property listing goes live.

This includes details such as:

• Tenure and council tax band

• EPC rating and property type

• Leasehold terms and building safety data

• Flood risk and standard property searches

• Title information and seller ID verification

• Condition reports based on property age and type

• Planning consents and service charges

• Clear floor plans and chain status

  
  

This means that buyers will be able to see the physical condition and characteristics of a home before making an offer, reducing uncertainty and helping transactions move more smoothly.

Digital Tools to Streamline the Process

Technology will play a major role in the reforms. The government plans to roll out digital property logbooks, digital ID verification, and standardised data sharing, improving security and communication between all parties.

Buyers will also be able to compare estate agents and conveyancers side-by-side, viewing their qualifications, track record, and compliance with a new mandatory Code of Practice.

Reducing Costs and Delays

One of the most frustrating aspects of buying a home today is when sales fall through late in the process — often costing buyers hundreds of pounds and weeks of lost time.

The government estimates that failed sales cost the UK economy £1.5 billion each year. These proposals aim to halve that number by introducing greater transparency and possibly even binding contracts, which could prevent buyers or sellers from pulling out without valid cause.

Overall, the changes are expected to accelerate home purchases by around a month, helping more people complete successfully and with less stress.

What This Means for Homebuyers in Bournemouth

For those buying in Bournemouth or across Dorset, these reforms could make a real difference — particularly for first-time buyers and those in chain transactions.

By improving the flow of information and removing hidden surprises, the process should become more predictable, less costly, and significantly faster.

At Bournemouth Mortgages, we stay up to date with all regulatory and industry changes so you can make informed decisions with confidence. Whether you’re a first-time buyer, moving home, or looking to remortgage, we can guide you through the entire process.

Verified Sources

This summary is based on official information from:

• The UK Government’s official press release (GOV.UK)

• Independent reporting by Reuters. Both sources confirm the timeline, savings, and policy intentions outlined above. Please note these reforms are proposals and are expected to be refined before becoming law.

  
  

Need Expert Mortgage Advice?

If you’re planning to buy, sell, or remortgage in the coming months, it’s wise to prepare early — especially as these government reforms begin to reshape the market.

📞 Call us today on 01202 985214 📩 Or visit bournemouthmortgages.co.uk/contact