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UK proposes homebuying reforms to cut transaction time by a month and save first-time buyers £710.
The UK government has proposed major reforms to speed up and simplify homebuying, aiming to cut about a month from the average transaction time and save first-time buyers £710.
Key changes include requiring sellers and agents to provide more upfront information, introducing earlier binding contracts to prevent chain failures, and setting new standards for estate agents and conveyancers.
Digital tools like online ID verification, inspired by Finland and Scotland, may further streamline the process.
While sellers could face £310 in extra upfront costs, those in property chains may see a net saving of £400.
The proposals are under consultation, with a full roadmap expected in early 2026.
Industry leaders including Rightmove, Zoopla, and Nationwide have welcomed the reforms, citing the need for greater speed, transparency, and modernization.
El Reino Unido propone reformas de compra de vivienda para reducir el tiempo de transacción en un mes y ahorrar a los compradores por primera vez 710 £.