Home buying and selling to become quicker and cheaper
- 9 February 2023
The government has today announced a package of measures to make buying and selling homes quicker, cheaper and easier.
The measures include:
- Introducing a new digital property conveyancing platform that will automate the conveyancing process, making it quicker and cheaper.
- Requiring conveyancers to provide a standardised set of information to buyers and sellers upfront, so that they can make informed decisions about the conveyancing process.
- Introducing a new code of conduct for conveyancers to ensure that they are acting in the best interests of their clients.
- Launching a new taskforce to review the home buying and selling process and make recommendations for further improvements.
These measures are part of the government’s wider plans to make housing more affordable and accessible. By making the home buying and selling process quicker, cheaper and easier, the government hopes to help more people to get onto the property ladder.
How will the new digital property conveyancing platform work?
The new digital property conveyancing platform will be a one-stop shop for all of the information and services that buyers and sellers need to complete a property transaction. The platform will:
- Allow buyers and sellers to track the progress of their transaction in real time.
- Provide access to a range of legal and financial services.
- Connect buyers and sellers with conveyancers.
- Make it easier for buyers and sellers to communicate with each other.
The platform will be available to use from 2025.
What are the benefits of the new measures?
The new measures are expected to provide a number of benefits, including:
- Quicker conveyancing times: The new digital property conveyancing platform will automate the conveyancing process, making it quicker and cheaper. This could reduce the average conveyancing time from 12 weeks to 8 weeks.
- Cheaper conveyancing fees: The new measures will also make conveyancing fees more transparent and competitive. This could save buyers and sellers hundreds of pounds.
- Easier home buying and selling process: The new measures will make the home buying and selling process easier and less stressful for buyers and sellers. This will be achieved by providing a standardised set of information to buyers and sellers upfront, introducing a new code of conduct for conveyancers, and launching a new taskforce to review the home buying and selling process.
The government believes that these measures will make a significant difference to the home buying and selling process. By making it quicker, cheaper and easier, the government hopes to help more people to get onto the property ladder.
Home buying and selling to become quicker and cheaper
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GOV UK a new article on 2025-02-09 09:23 titled “Home buying and selling to become quicker and cheaper”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
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