Homebuyers to save cash in new proposal

THE biggest shakeup to the homebuying system in history could slash costs for buyers and cut the time it takes to move, the Government claimed.

- 

Changes could include requiring property sellers and estate agents to provide more information when a home is listed for sale, reducing the need for buyers to carry out searches and surveys.

Binding contracts could also be introduced at an earlier stage, reducing the risk of a chain collapsing.

The proposals could also deliver clearer information to consumers about estate agents and conveyancers, including their track record and expertise, along with new mandatory qualifications and a code of practice to drive up standards.