​The Government has announced sweeping reforms to modernise the home-buying process

​The UK Government has announced sweeping reforms to modernise the home-buying process, with changes expected to ripple across both legal and financial recruitment sectors.

Under the proposals, sellers and estate agents will be legally required to provide key property information, including condition, leasehold costs, and chain status, before a property goes to market. Binding contracts (or the option of them) are also being introduced to reduce last-minute withdrawals, with the Government aiming to halve failed transactions, which currently cost the economy around £1.5bn each year.

For buyers, the reforms could mean faster completions and cost savings, with first-time buyers potentially saving an average of £710, and process times cut by up to four weeks.

For legal and financial professionals, these changes signal greater transparency, higher industry standards (including a new mandatory Code of Practice), and a shift in how transactions are managed.

👉 Read more on the proposals and their implications here:

https://heyor.ca/PK2o2C

#LegalRecruitment #FinancialServices #UKPropertyMarket #HiringTrends