Hundreds of thousands of first-time buyers are set to save £710 on average when buying a home, along with vital time and energy, thanks to the biggest shakeup to the homebuying system in history.
Proposals unveiled by the Government will speed up the long-drawn out and costly process of buying a home by four weeks, saving people money and unnecessary stress. It will see sellers and estate agents required under the plans to provide buyers with vital information about a property upfront, including the condition of the home, leasehold costs, and chains of people waiting to move. This will help end nasty surprises which result in last-minute collapses.
Binding contracts could also be introduced to stop people walking away from agreements after buyers spend months in negotiations. This will help halve the number of failed sales, so precious time and money don’t go to waste, as well as avoid heartbreak and stress for hard-working people looking for the perfect home.
I have been contacted by constituents in Bassetlaw on this and I am strongly welcome that their voice is now being heard.
The government are consulting on these plans until 29th December 2025 and I would encourage you to take part via this link.