Home buying and selling reforms: what do they mean for you? 

The government announced major reforms to the home buying and selling process on 19 June 2026. Here’s a breakdown of what’s changing and what the reforms could mean for you whether you’re buying, selling or both.

Last reviewed 22 June 2026 | 7 min read

Key takeaways 

• The government has announced major home buying and selling reforms. They’re designed to make the process faster, cheaper, and more transparent.
• Sellers and estate agents will need to provide “sales packs” when a property is listed, with information on its condition, leasehold costs, chain status and more.
• New binding conditional contracts will make sales and purchases legally binding earlier in the process. There will be financial penalties for buyers or sellers who walk away without a legitimate reason.
• The reforms are expected to cut the time transactions take by around four weeks and save first-time buyers an average of £650.
• The changes are not yet law. They’re still being developed, and some details aren’t confirmed yet.

What are the home buying and selling reforms? 

The home buying and selling reforms are a set of government measures. They aim to fix what ministers have called a “broken” system. Announced on 19 June 2026 by the Ministry of Housing, Communities and Local Government, the reforms target three problems: transactions that take too long, deals that fall through at a late stage, and a lack of upfront information that leaves buyers and sellers making costly decisions in the dark. 

The government’s own figures give a clear picture of the problem. The average home purchase takes around 120 days in England. Around one in three sales falls through, costing sellers approximately £400 million per year and the wider economy up to £1.5 billion. 

The reforms centre on four main changes: sales packs must be provided upfront, binding agreements will be made earlier, digital processes and tools will be used more widely and estate agents will follow a new code of practice. 

Most of these will need plenty of development legislation before they take effect, but the direction of travel is clear. 

Conveyancing in numbers 

• 120 days: the current average time to complete a home purchase
• 1 in 3: the number of transactions that currently fall through
• 4 weeks: the expected reduction in transaction time thanks to reforms

Source: gov.uk, June 2026 

What are sales packs, and will sellers have to provide one? 

Under the proposed reforms, sellers and estate agents will need to prepare an upfront when listing a property. This is one of the most significant practical changes for anyone selling a home. 

The sales pack would set out the key facts about the property, covering its condition, any leasehold costs and obligations, and the chain status. Chain status means whether a purchase is dependent on the seller moving, and who else is in that chain.  

The aim is to give buyers the information they need to make a properly informed decision before they commit to legal fees and surveys. It will also allow solicitors to start work earlier in the process. 

Some sellers already use sales packs voluntarily. Making them mandatory, with a standard format, is the step that supporters of reform have been pushing for. For buyers, this could mark a big change by helping to prevent nasty surprises about the property’s condition only discovered close to exchange. 

It’s not yet clear exactly what a sales pack will need to contain or the format it will take. 

What are binding conditional contracts, and how will they work? 

This is the biggest structural change in the package, and will need the most legal development. 

Currently, a seller and a buyer don’t have a binding agreement until they formally exchange contracts, which usually happens several weeks or months after an offer is accepted. Until that point, either party can walk away at any time, for any reason, at no legal cost. This is what makes gazumping, gazundering, and last-minute withdrawals possible. 

The proposed binding conditional contracts would make a transaction legally binding much earlier, likely at or shortly after the point an offer is accepted. Both parties would agree to clear terms and obligations. If either party then withdrew without a valid reason, they would face a financial penalty. 

The government has been clear that this is a “fundamental change” that needs careful handling. It has committed to working with the industry to set fair penalty levels, define what counts as a valid reason for withdrawal, and establish a dispute resolution process. 

The details, including what the penalties will be, aren’t clear yet. Buyers and sellers should not assume the current process has changed until the legislation is in place. 

What is gazumping?

Gazumping happens when a seller accepts a higher offer from a different buyer after they’ve already accepted the original buyer’s offer. This is currently legal up to the point of exchange.

What is gazundering?

Gazundering happens when the buyer reduces their offer unexpectedly, usually close to the point of exchange. This puts pressure on the seller to accept the lower offer or risk losing the sale. Like gazumping, it’s also legal up to the point of exchange.

How much could the reforms save me?  

The government’s headline figure suggests an average saving of £650 for first-time buyers. This is based on fewer transactions falling through, less duplicated work, and reduced costs from a faster, more digital process. 

For anyone who has had a sale or purchase fall through, the real cost goes well beyond that. Failed transactions currently cost seller around £400 million per year. For an individual buyer or seller caught in a collapsed chain, costs can reach thousands of pounds once solicitor fees, survey costs, and mortgage arrangement fees are taken into account. 

Faster transactions would also reduce the time in which interest rates, mortgage offers, or personal circumstances can change, all of which could derail a sale. 

Will the reforms make gazumping illegal? 

Not directly, and not immediately. Gazumping happens when a seller accepts a higher offer from a different buyer after already accepting your offer. It is currently lawful in England and Wales, because no binding agreement to sell or buy the property exists until exchange. 

Binding conditional contracts, if introduced as described, would make gazumping a breach of contract. The same would apply to gazundering (a buyer reducing their offer at the last minute). 

However, this change requires new legislation, which the government is still developing. There will also need to be agreed exceptions. For example, a buyer who loses their job, or whose survey reveals a serious structural problem, would likely not be penalised in the same way as someone who simply gets cold feet. 

Will the process actually get faster? 

The government expects the reforms to cut around four weeks from the average transaction time. Rightmove’s data puts the current average completion time at around 167 days, compared with the government’s figure of around 120 days. So, the real starting point may be longer than the official estimate.

The time savings would come from multiple directions. Upfront sales packs prevent waiting for basic property information after an offer is accepted – a common cause of delay. Digital identity checks and electronic signatures remove paper-based bottlenecks. Earlier binding agreements reduce the risk of a sale falling through and having to start again from scratch. 

Countries that have introduced comparable reforms have seen improvements. According to the Government, The Netherlands, which uses a live tracking system for buyers and sellers, achieves an average completion time of 20 days. Plus, Norway’s digitalisation programme is estimated to have saved around £1.4 billion over 10 years. England and Wales start from a different legal position, so they can’t be directly compared, but the direction is promising. 

What does this mean for estate agents? 

Estate agents will have a new role under the proposed reforms. They will be responsible for producing or assembling the sales pack at the point of listing, rather than this starting only once a buyer is found and solicitors are instructed. 

Beyond that, the government has proposed a new Code of Practice for estate agents, setting minimum standards for how transactions are handled. Mandatory professional qualifications for estate agents are also being considered. Currently, unlike solicitors, estate agents are not required to hold any formal qualification to practice. 

For buyers and sellers, this should mean more skilled and accountable estate agents, though the detail of the code is yet to be published. 

Are the reforms law yet? 

No. As of June 2026, these are proposals, not law. The government has announced its intention to make these changes and has outlined what they will broadly look like. However, the bill has not been introduced to Parliament, let alone passed. 

The binding conditional contracts element requires primary legislation and significant further development with the legal and property sectors. The government has acknowledged this will take time to get right. 

This is an important distinction for anyone currently buying or selling. The process you are in today works under the existing rules. Nothing announced in June 2026 changes your current transaction. What it does is signal how the process is likely to evolve over the coming years.

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What should I do if I’m buying or selling right now? 

The reforms don’t change anything about a transaction you’re currently in. But, they’re a good reminder of what already matters in getting a move to completion safely. 

If you’re buying: 

• Instruct your conveyancer as early as possible, ideally before your offer is accepted. This helps avoid delays when you are ready to go.
• Don’t assume silence from your solicitor means nothing is happening. Ask for regular updates, and choose a firm where a named solicitor handles your matter directly.
• Consider an independent survey. These aren’t required, but can tell you a lot about the property’s condition before you’re legally locked into the purchase at exchange.

If you’re selling: 

• Gather your documents early, including title deeds, any planning permissions, building regulations certificates, EPC certificate, and warranty documents for any work done on the property. This helps prevent delays to the process and gives your buyer as much information as possible.

When should I speak to a solicitor? 

A conveyancing solicitor helps you at every stage of a buying or selling transaction. If you’re thinking of buying or selling, speak to one as early as possible so they’re ready to go when you are. This helps prevent any delays to the process.  

Speak to our conveyancing team for a confidential, no-obligation conversation about where you stand.

FAQs 

When will the home buying and selling reforms come into effect?  

The date hasn’t been confirmed. The reforms were announced in June 2026, but most require legislation that has not yet been introduced to Parliament. The government has said it will work with the industry on the details,particularly around binding contracts and penalties. Individual firms might adopt some digital changes, like AI-assisted tools and electronic signatures, more quickly. 

Will I need to pay a deposit earlier under the new system?  

The proposed binding conditional contracts involve a financial penalty for withdrawing without a valid reason. However, this is different from a traditional deposit paid at exchange. The precise details haven’t been announced yet. The government has committed to developing fair penalty levels in consultation with the industry before any legislation is introduced. 

Do these reforms apply in Scotland?  

No. Property law and the home buying process in Scotland are separate from England and Wales. Scotland already uses a different system, and the process becomes legally binding at an earlier stage. These reforms apply to England and Wales only. 

Will sales packs replace the need for a survey?  

No. A sales pack is a seller-provided document describing the property’s known condition, chain status, and leasehold information. An independent survey is a professional inspection carried out on your behalf by a qualified surveyor. The two are separate things, and it’s likely that a survey will remain important for any buyer who wants an independent assessment of the property’s condition. 

What counts as a valid reason for pulling out under the new contracts?  

The government has said it will define clear exception clauses, for example, where a survey reveals a serious problem, or where a buyer loses their job so can no longer afford the purchase. The specific list has not been published yet. The intention is that genuine unforeseen circumstances will not result in a penalty, while a simple change of mind or an opportunistic renegotiation will. 

Will the reforms help if I’m in a chain?  

They should, over time. Upfront sales packs mean each property in a chain has key information ready earlier. This reduces one main cause of chain delays. Earlier binding agreements would also reduce the risk of one party in a chain walking away and breaking the whole chain. For now, though, chains work the same way they always have.

This article contains general information about the conveyancing process in England and Wales and is not legal advice. The law can change, and every situation is different. Please speak to a qualified solicitor or conveyancer about your circumstances.