Proposed Changes to Simplify Home-Buying and Selling

The Cedar Crest Team
3 days ago
3 min read

Streamlining the journey from offer acceptance to completion

Proposed Changes to Simplify Home-Buying and Selling

IN THE FINAL quarter of 2025, the Government held a consultation on proposed reforms to home-buying and selling, recognising that the current process is lengthy, complex, and frustrating[1]. At present, moving from an accepted offer to completion takes approximately four months on average, with about a third of transactions falling through.

To streamline the process and provide buyers and sellers with more certainty, proposed changes included requiring upfront property and legal information and making transactions binding earlier through conditional contracts

Much Needed Reforms

This proposed system is similar to the one already used in Scotland, where only 9% of transactions fall through after an offer is accepted, compared with 1 in 3 elsewhere.

While these much-needed reforms will take time to become legislation, there are several key steps you can take to ensure your move goes as smoothly as possible. The first crucial step is to determine whether you are operating in a buyers’ or sellers’ market, as this dictates how you should approach your property journey

Navigating Market Conditions

When there are many properties available on the market but fewer people looking to buy, the excess supply over demand generally favours the buyer. In this scenario, sellers are more likely to lower their asking prices to make a sale, giving buyers opportunities to make lower offers and secure a better deal.

Conversely, if there are more buyers than available properties, competition is intense, leading to a seller’s market where prices rise, and homes often sell for considerably more than their initial asking price.

Current Demand and Competition

Understanding the type of market you’re dealing with helps you predict the best way to take and respond to offers. A good sign of the local market is the ratio of ‘for sale’ to ‘sold’ boards outside properties and how quickly they are replaced.

“Estate agents are legally required to provide all the information an average buyer needs to make an informed decision within their listings.”

However, the easiest way to understand current demand and competition is to speak with a local estate agent who can discuss the market in detail. You should also ensure that all material information has been provided in any property listing before you proceed.

Understanding Property Details

Estate agents are legally required to provide all the information an average buyer needs to make an informed decision within their listings. This essential data includes council tax banding, utility details, broadband connection quality, and any risks from flooding or coastal erosion.

For leasehold properties, the listing must also specify the lease term, service charges, and ground rent. Additionally, listings should emphasise any planning permissions, rights of way, and legal restrictions, from pet ownership to operating a business from the premises

Secure a Well-Informed Buyers

Providing this level of detail upfront helps sellers secure a well-informed buyer, significantly reducing the risk of the sale falling through later. If you are interested in a leasehold property, for example, you should not view it unless the listing includes all the necessary financial and restrictive details, as this could affect your ability to obtain finance.

To further minimise stress, both buyers and sellers should ensure their legal representation is in place as early as possible.

Preparing Legal and Financial Foundations

If you are selling, it is advisable to have the sales contract prepared before putting your property on the market, especially if you have special circumstances such as lease restrictions or recent planning permissions. Allowing your legal representative sufficient time to organise everything will speed up the transaction once you find a buyer.

For buyers, instructing a licensed conveyancer before you start looking allows them to conduct identity checks and open your file, ensuring they are ready to proceed the moment you have an offer accepted.

Preparing Finances Before Viewing Properties

Finally, buyers must thoroughly prepare their finances before viewing any properties. Obtaining professional mortgage advice will help you understand exactly how much you could realistically borrow and afford, including all additional moving costs.

Securing an Agreement in Principle will reassure the seller that your offer is both affordable and credible. This is a conditional offer from a lender indicating how much they might be willing to lend you for a mortgage. It’s based on basic financial checks and provides an idea of your budget, but it is not a guarantee of final approval.

Source data: [1] https://www.gov.uk/government/ consultations/home-buying-and-selling-reform/ home-buying-and-selling-reform#our-currenthome-buying-and-selling-system-is-not-working