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MPs launch probe into why home buying and selling is so stressful

home buying and selling

MPS have aunched a cross-party inquiry into how the experience of buying and selling homes could be improved in England.

The Levelling Up, Housing and Communities Committee will look at the chief obstacles to improving the sector, by examining the transaction process, the information available to buyers, and the role of conveyancers and estate agents.

It is asking for written evidence on issues such as the time taken to complete a transaction and challenges in finding the right information, the lack of transparency around conveyancing services, payment of ‘referral fees’, and the regulation of estate agents.


Questions on the consultation include: What is the impact of issues in the transaction process, such as gazumping or gazundering, and how could they be remedied? What effect would it have on the transaction process if sellers were required to provided set information about a property when it was marketed? Do consumers have sufficient information to determine which conveyancer to use? And should there be a single, legally enforceable code of practice for property agents?

Clive Betts, chair of the Levelling Up, Housing and Communities Committee, says: “The process of buying and selling a home in England is often stressful for those involved. Indeed, despite there being around two million households who successfully buy or sell their home each year, consumers often find the process is not as efficient, effective, or as consumer friendly as it could be.”

Thiis is not the first atttempt by politicians to improve home buying and selling - an industry group of agents, landlords and other players in the market set up the House Buying and Selling Group several years ago to act as a talking shop for the industry and policy makers from Whitehall to discuss how to improve the process.

The closing date for written submissions is 18th April.


Housing policy
Clive betts