The Government has trailed a “major homebuying overhaul” to cut costs and shorten transaction times. On the surface, it’s easy to cheer — but execution is everything. The UK’s conveyancing system is a patchwork of legacy processes, local authority dependencies and uneven digitisation. Getting from policy intent to quicker, cheaper completions will require more than slogans.
What’s on the Table
Up‑front information as standard
A move toward seller‑prepared packs (title, searches, material facts) could reduce fall‑throughs by confronting issues before offers are agreed. The logic is sound: fewer surprises later, more reliable pipelines.
Digitised identity and signatures
Mandating secure digital ID, standardised e‑signatures and integrated KYC would cut days of admin. Lenders and conveyancers could exchange verified data without re‑keying, reducing errors and turnaround time.
Search modernisation
Local searches are the frequent bottleneck. National minimum standards, target SLAs, and funding for digital backlogs would remove one of the longest and least predictable steps in the chain.
Cost savings for FTBs
The Government talks about saving “hundreds of pounds” per purchase. Realistically, savings will come from fewer abortive costs and compressed timelines rather than dramatic fee cuts. Even so, less friction benefits the entire chain.
Where Implementation Gets Hard
- Fragmented responsibility: Land Registry, local authorities, lenders, conveyancers and agents all own parts of the journey. Success requires interoperability, not just new rules.
- Data quality: Standardised datasets and APIs are necessary; otherwise digitisation just moves manual problems into a screen.
- Adoption curve: Without carrots (or sticks), early winners will be large lenders/agents with tech budgets, widening the productivity gap.
What Would a Better Journey Look Like?
- Pre‑listing Seller Information Pack (SIP): Verified title, property info form, material facts, EPC and indicative searches available on day one.
- Offer-to-exchange workflow: Buyer due diligence is front‑loaded; surveys and mortgage valuation run in parallel with mortgage underwriting via shared data rails.
- Exchange-to-completion: e‑signatures, secure escrow, and standardised completion statements reduce error risk and last‑minute delays.
A realistic target would be to take two to three weeks out of the median timeline and reduce the fall‑through rate by 5–10 percentage points. That would be a tangible win for buyers, sellers and agents.
Implications by Stakeholder
- Agents: More vendor education and document preparation pre‑listing, but faster, more reliable pipelines post‑offer.
- Conveyancers: Less chasing; more front‑end review and digital case management.
- Lenders: Integration work to accept shared data objects (ID, source of funds, valuation).
- Developers: Faster resales on completions and a smoother customer journey for FTB units.
Risks and Watch‑Outs
| Risk | Impact | Mitigation |
|---|---|---|
| Uneven local authority capability | Bottlenecks persist in slow councils | Ring‑fenced funding; central support |
| Privacy & security concerns | Slower adoption of digital ID | Accredited providers; clear standards |
| Partial uptake | Benefits limited to big players | Phased mandates; incentives for SMEs |
Ethira Perspective
Ethira supports reform that cuts friction, not corners. The right mix is pragmatic: standardised seller‑side information, interoperable digital ID, and funded local digitisation. Our expectation is incremental wins through 2026 rather than an overnight revolution. For clients, the message is clear: prepare for front‑loaded documentation, adopt e‑signature and secure data exchange now, and work with conveyancers/lenders who can execute on a faster pipeline. Liquidity improves when certainty improves.