If you’ve had experience of buying and selling houses in the UK, you’ll know that the process can often be fraught with delays and complications. Rightmove data shows that the average time it takes for homebuyers in the UK to purchase a property is currently 170 days.
The process is not just slow, it can also be risky, as one in five transactions currently falls through. This could be due to a collapsed property chain, survey problems, financial issues or the buyer simply changing their mind.
Uncertainty is the last thing you need when you’ve invested time, money (and let’s face it, a lot of emotional capital) in your efforts to move home. But hopefully, help is on the way.
Our estate agents in Ilford have teamed up with our estate agents in Newbury Park to update you on government plans to improve the house buying process. Under new rules, more property information must be provided up front, buyers will be compelled to commit at an earlier stage and estate agents must gain appropriate qualifications.
If the new laws go ahead as planned, the government claims that the average transaction period could be reduced by as much as four weeks. First time buyers could also save an average of £650 on a home purchase.
How will the new homebuying reforms work?
The government has issued an information sheet (the Renters’ Rights Act Information Sheet 2026) for current tenants. This explains the new rules and what they mean for the tenancy.
As a landlord, you are legally bound to give this to every tenant named on the rental agreement, provided that:
- The tenancy began before 1st May 2026
- The tenant has received a written account of the tenancy terms (this includes a formal tenancy agreement).
The deadline for providing this information sheet to your tenant was 31st May 2026. If you haven’t already sent it out, you should do so immediately, otherwise you could risk a fine of £7,000.
Some tenancies are based on a verbal agreement. If this is the case for a tenancy that started before 1st May 2026, the tenant will now need to receive an account of that agreement in writing. This will set out the key conditions of the tenancy. It should include the names of the parties involved, deposit details, the property address, landlord name and address, start date, rent amount, payment dates and notice periods.
1. Seller information packs
In 2024, 27.3 per cent of transactions failed due to the problems flagged up by a survey.
Surveys can take weeks to produce and during that time the buyer will probably have spent a considerable sum on conveyancing fees and other expenses. In future, sellers will be required to offer a comprehensive sales pack upfront, at the point of listing.
The pack will contain important information about the property, covering household costs, the home’s condition and the seller’s situation (for example, are you selling a chain-free property?)
The government believes that well-informed buyers will be less likely to pull out of a sale, so the pack will provide the essential information each buyer needs to make an offer.
Sellers will also benefit, as this process will result in more informed, and therefore more committed, buyers.
2. Binding agreements at an earlier stage
Currently a buyer can change their mind and walk away from a property purchase at any time before exchange of contracts, with no legal obligation to compensate the seller.
This means that months of negotiation, preparation and legal fees can be wiped out at a stroke, leaving the seller back at square one.
Going forward, buyers will sign an agreement that commits them to the purchase earlier in the process, and this will provide greater security for both buyer and seller.
3. Code of Practice and qualifications for estate agents
At Oakland Estates we have been successfully handling properties for sale in Ilford and the surrounding areas for 37 years. We are proud of our distinguished history, and we applaud the government’s ambition to establish high professional standards throughout the profession.
A new Code of Practice, together with mandatory qualifications, will establish clearer standards, higher values and better training for estate agents. As a result, agents will have the knowledge and support they need to work more efficiently in the sector.
4. Digitising the sales process
Another planned reform is a commitment to provide a digital alternative to traditional, paper-based systems.
Property logbooks and sales packs will be produced digitally. We can also expect to see digital identity checks, documents signed electronically and certain aspects of the conveyancing process handled by AI systems.
It’s worth looking at countries that have made similar changes. In the Netherlands, live digital tracking for buyers and sellers has cut completion time to an average of around 20 days. Norway has claimed that streamlining these processes has created savings of approximately £1.4 billion over 10 years.
What is the current timeline to introduce these changes?
The government’s homebuyer reforms were introduced in June, but there is still some way to go before they become law.
Legislation will be gradually phased in over the next few years, beginning in late 2026 with non-statutory guidance designed to improve property listings and help estate agents meet their legal responsibilities. At this time the government will also prepare the sector for the changes ahead.
The government aims to pass all the planned changes into law by the end of this Parliament.
What should I do if I want to sell my home now?
When an experienced estate agent works with an efficient sales progressor, they can solve minor issues in the sales process before they turn into major problems.
Our expert sales teams have proved time and again that they have the insight, knowledge and skills to help you buy and sell successfully.
We would love to hear from you, so get in touch to share your plans.
Call us at 020 3972 7341 or email info@oaklandestates.co.uk.
If you are looking to sell, buy or rent a property in Ilford, check out our latest listings below.
For more details or to book a free property valuation, contact our team today — our property experts are here to guide you through every step of your property journey.
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