Home buying and selling reforms
The UK government has announced major changes to the home buying and selling process. We are reviewing the proposals and will seek the views of our members before forming our position.
The government says its proposed reforms will make buying and selling homes faster, cheaper and easier.
The reforms are focused on reducing the number of failed transactions.
Proposals
The proposed reforms would:
- require sellers and estate agents to provide key information about a property upfront. This includes information about the condition of the home, leasehold costs and details of those involved in chains
- give buyers and sellers the option to enter into a binding contract earlier in the process
- expand the use of digital tools. This includes property logbooks, digital ID verification and data-sharing platforms
- introduce mandatory qualifications and a Code of Practice for estate, letting and managing agents
The government would also publish consumer information on estate agents, property solicitors and conveyancers.
Our view
We welcome the UK government’s commitment to improving home buying and selling.
We’re committed to ensuring any reforms consider the experience of property solicitors and conveyancers.
To improve the conveyancing process, we support:
- greater transparency in property chains
- regulation of estate agents
- early instruction of solicitors and conveyancers
- joined-up technology that is accessible to firms of all sizes
“We know that many feel the conveyancing process is slow and complicated,” said our vice-president, Mark Evans.
“It can also be confusing as to who should be doing what, and there is the risk of duplication of effort.
“Information is often not available as quickly or as easily as it should be.
“Making the right reforms would help address all of these issues.”
Next steps
The government has launched two consultations:
Both run until the end of the year.
Before we respond, we will provide members with the chance to share their views.
Upcoming opportunities include a survey in early November and focus groups in early December.
Your insights will help us understand how the proposed reforms may affect conveyancing work.
We will update you on these opportunities when our Get Involved programme launches in November.
Get Involved will provide solicitors with flexible opportunities to come together and share their knowledge and experiences to address the key issues affecting them.