Buyers could save hundreds in new house buying shakeup

Government reforms aim to save first-time buyers £710 and shorten property transaction times. The changes seek to reduce costs and delays, with potential savings of £400 for those in the middle of a chain. The reforms include upfront property information disclosures, binding contracts, and a proposed mandatory Code of Practice for estate agents and conveyancers, all intended to prevent deal failures and boost buyer confidence. The overhaul, part of a broader housing strategy, is set to modernize the homebuying process and boost professional standards in the housing sector.