The Government's new reforms will make buying and selling faster, cheaper and less likely to fall through. Here's what it means for you in Lancashire.
Offer accepted, then the long wait. Paperwork back and forth, and that nagging worry: will it actually go through?
Too many people know that feeling. The average purchase takes around 120 days, and one in three sales falls through. That costs sellers £400 million a year and the economy up to £1.5 billion.
On 19 June, the Government announced major reforms to fix it. Here's what's changing, and what it means for you across Lancashire and Greater Manchester.
What's Changing
Upfront Sales Packs
Sellers and agents must provide key details — including condition, leasehold costs and chain status — before a property is listed. Fewer surprises later, and a fairer process from day one.
Earlier Binding Agreements
A deal becomes legally committed sooner, often once an offer is accepted. Walk away without good reason and you could face a penalty. This won't start until sales packs are established, so buyers are never bound before they have the facts.
A Move to Digital
Property logbooks, e-signatures, digital ID checks and AI-assisted conveyancing replace the paper-based back and forth, letting you track your move in real time.
Higher Standards for Agents
A new Code of Practice sets minimum standards, with mandatory qualifications to follow.
What It Means for You
First-time buyers
Save an average of £650 and around four weeks, plus far less risk of losing survey and conveyancing fees to a collapsed deal.
Sellers
Do a little more groundwork upfront, but a fully-informed buyer is far less likely to get cold feet.
Anyone in a chain
Benefits from fewer last-minute collapses.
When
- Later in 2026: Code of Practice and listing-quality guidance.
- From 2027: consultation on qualifications and digital tools.
- By the end of this Parliament: legislation requiring sales packs, binding contracts and digital systems.
A phased approach gives the industry time to adapt. The Netherlands already runs a similar system, and completes sales in an average of 20 days.
Our View — And Why We're Already Ahead
Honest, upfront information and a real commitment to getting a sale over the line is how we've always worked — and it's how our clients achieve an average of 103% of asking price.
These reforms are catching up to what the best agents already do. At Clarke Residential, you'll never be left chasing updates or wondering what happens next. One dedicated agent handles everything from valuation to completion, with total transparency at every step.
When the new rules land, nothing changes for our clients — because we're already there.
Thinking of Selling? Work With an Agent Who's Already Ahead.
Find out what your home could be worth with our free instant valuation tool — takes 5 seconds, no sign-up needed. Or book a personal valuation with Callum to get proper, local advice.