On 6th October 2025, the government unveiled the “biggest shake-up” to the home buying system. The aim? To fix the seemingly ‘broken’ process.
At present, it takes an average of 120 days to complete the legal transaction from when a buyer’s offer is accepted. Property transactions have increased by 60% since 2007; however, 1 in 3 transactions now fail, costing buyers and sellers around £400 million per year in wasted costs.
In light of these statistics, the government hopes to combat inefficiencies through better digital tools and a more streamlined process. Other countries, such as Norway, have successfully implemented similar strategies, finding that transactions complete in four weeks or less, with digitisation driving estimated savings of up to £1 billion over 10 years.
What Are the Proposed Changes?
Please see a non-exhaustive list below:
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Detailed material upfront information packs.
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A focus on digital tools, including property logbooks and ID verification.
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Mandatory qualifications and a code of practice for estate agents.
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Legally binding contracts to prevent either side from pulling out of transactions without consequences.
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A public register to inform the public about the services of conveyancers and estate agents.
The Ministry of Housing, Communities and Local Government claims that these changes “could accelerate transaction times by around 4 weeks and will halve the number of failed sales, which come at a cost to the economy of £1.5 billion a year.”
How Are We Reacting to the Announcement?
At Myerson, we are feeling optimistic about the announcement and look forward to hearing more about the proposed changes to the conveyancing process.
From experience, we know that collapsing chains is a common occurrence (often just before the point of exchange causing significant distress to all parties). Therefore, we welcome any developments that aim to provide greater security and confidence for our clients who are navigating the moving process, particularly if they can accelerate key stages.
Our team is committed to staying ahead of the curve. We are following key developments in the news to anticipate how we can update our internal procedures to be compliant from day one. In addition, we are maintaining close relationships with other property professionals (such as estate agents and surveyors) to ensure that a uniform approach is adopted.
How Can We Help You?
We are a close-knit team of qualified solicitors who “keep our finger on the pulse”, meaning that we are quick to react and adapt to any changes as they happen. Whether you require guidance on the new conveyancing process, legislation, or shifting lender’s requirements, we will be on hand to assist you.
We have a wealth of experience in handling various property transactions ranging from complex, high-value property portfolios to straightforward property transfers. This means that, whether you are a first-time buyer or a seasoned investor, you can rely on us to deliver pragmatic, tailored and ‘current’ legal advice to suit your needs. Our primary aim is to ensure that the process is as smooth and stress-free as possible.
We understand that buying or selling a property is one of the most significant decisions you will make. Therefore, we are committed to providing our clients with a proactive, approachable, and professional service. We are hopeful that the proposed changes will make the conveyancing transaction more streamlined and enable you to move into your new home even quicker!
At Myerson, our Residential Property Solicitors will guide you through the evolving home buying and conveyancing reforms, ensuring you remain informed and compliant every step of the way.
The government’s proposed changes could significantly impact how property transactions are managed. Our experienced team will help you navigate these updates with confidence, ensuring your move is as smooth and secure as possible.
0161 941 4000
Acacia Spencer
Solicitor Apprentice
Acacia joined Myerson in September 2024 after finishing her A-Level studies at Fallibroome Academy sixth form with straights A’s.
She is currently completing her first legal seat in the Residential Property Team. Throughout the 6-year apprenticeship programme, Acacia will work with various legal teams before qualifying as a solicitor in 2030.
About Acacia Spencer