Government announces consultation on homebuying reforms

The government announced a consultation in September on a series of reforms to the homebuying process in England and Wales, covering upfront information, binding contracts and estate agent regulation¹. The 12-week consultation closed at the end of 2025, and the government has said it will publish a roadmap in winter 2025 to 2026¹.

The proposals set out three main changes. Sellers and estate agents would be required to provide buyers with more details about a property upfront, including information on the home's condition, leasehold costs and the length of any property chain¹. Buyers and sellers could choose to sign binding conditional contracts that include a financial penalty if one party pulls out after an offer has been accepted¹. Estate, letting and managing agents would face mandatory qualifications and a new code of practice, with the stated aim of raising standards, improving transparency and boosting consumer trust¹.

The upfront information approach would bring the rest of the UK closer to the system used in Scotland, where valuations and surveys are provided upfront as part of a seller's home report¹. Research has shown this leads to fewer failed transactions and faster completions¹.

Separately, Nationwide Building Society has become the first provider to offer mortgage deeds that can be signed digitally and without a witness¹. Buyers or those remortgaging with Nationwide may now be able to sign their mortgage deed electronically, provided their conveyancer is set up to use Qualified Electronic Signature (QES)¹. Nationwide worked with HM Land Registry, Your Conveyancer and Veyco to introduce the change, following HM Land Registry's decision in August to allow QES for mortgage applications¹. QES verifies who signed the deed, reduces the risk of tampering and has the same legal status as a handwritten signature witnessed in person¹.

Other lenders gave mixed responses when asked about their plans. Skipton Building Society said it is testing and adopting tools to make the mortgage process simpler, including electronic signatures, and aims to have this in place by April¹. NatWest said it is actively exploring the ability to sign mortgage deeds electronically without a witness through its partnership with Pexa, and that it is supportive of QES¹. HSBC said it is actively working to implement electronic signing of mortgage deeds but could not confirm when this would be rolled out¹. Leeds Building Society already allows remortgage customers to sign mortgage deeds electronically, although this is not currently available for first-time buyers or home movers¹. Coventry Building Society said it does not currently offer the option but is exploring innovations that could help make the buying process smoother¹. Yorkshire Building Society said it has no immediate plans to implement this¹. Barclays did not provide a comment, Santander said it had nothing to add at this stage, and Lloyds Banking Group did not respond before publication¹.

Why it matters for households

Anyone buying or selling a home in England and Wales is potentially affected by the consultation proposals, though nothing changes until the government responds and any rules are made. The upfront information requirement would mean buyers see details on condition, leasehold costs and chain length earlier than they do now, which the government links to fewer failed transactions and faster completions¹. The binding contract option would be a choice, not a default, and would carry a financial penalty for a party who pulls out after an offer is accepted¹. Mandatory qualifications and a code of practice for agents would apply to estate, letting and managing agents¹.

On digital deeds, the change is live only for Nationwide customers whose conveyancer uses QES¹. Customers of other lenders named above would need their provider to adopt the same approach, and the timings given range from April for Skipton to no confirmed date for HSBC and no immediate plans at Yorkshire Building Society¹.

What happens next

The 12-week consultation closed at the end of 2025, and the government has said it will publish a roadmap in winter 2025 to 2026¹. Skipton Building Society aims to have electronic signatures in place by April¹. No date has been reported for HSBC's rollout, and Yorkshire Building Society said it has no immediate plans¹.

For more on the process, see buying a home: a complete guide, making an offer on a house, the costs of buying a house and conveyancing: the legal work when you buy a home. On agent conduct, see can I complain about my estate agent, and to whom? and must an estate agent pass all offers to the seller?. For how rule changes reach consumers, see financial regulation in the UK.