Proposed government overhaul of house purchase process looks at shifting some costs from buyers to sellers
Ministers are attempting to cut the time it takes to buy a home by four weeks under new proposals aimed at overhauling the housebuying process.
The UK government will also consult on plans to shift costs from buyers to sellers, including compelling sellers and estate agents to provide buyers with vital information – such as the condition of the home and the scale of any leasehold costs – upfront.
The Ministry of Housing, Communities and Local Government said the proposals were aimed to help “end nasty surprises which result in last-minute collapses”, with the department estimating that first-time buyers will save “£710 on average” when buying a home.
The initiative began when the department was being run by the former deputy prime minister Angela Rayner, who resigned last month over a stamp duty row and who pledged to streamline the housebuying process in February.
