Government proposes sensible homebuying reforms?

jez9999

Just came across this article on RightMove.

The proposed reforms seem refreshingly sensible to me. Upfront information packs, earlier binding agreements, etc. Exactly what I felt should be done to fix the UK homebuying process. Anyone think these kind of sensible reforms might actually make it into law? I believe this kind of thing has been proposed before.

Alderbank

'…A central part of the reform package is a commitment to replacing paper-based systems with…AI-assisted conveyancing…'

I stopped reading at that point.

jez9999

https://forums.moneysavingexpert.com/discussion/comment/82046651#Comment_82046651

Yeah that bit does look dumb. The rest of it, though, not so much.

Section62

https://forums.moneysavingexpert.com/discussion/6673788/government-proposes-sensible-homebuying-reforms

Anyone think these kind of sensible reforms might actually make it into law? I believe this kind of thing has been proposed before.

Not just proposed, legislated for and partially implemented…

https://www.legislation.gov.uk/ukpga/2004/34/part/5/enacted

The reasons why it was a failure, and likely will be again, would take us into the realms of "political debate" - which the forum team prefer us not to do.

"Those who don't learn from history are doomed to repeat it"

jez9999

Can we agree that that's depressing? God, it would be nice for the UK property market to actually get fixed.

mta999

I think back in the day when this was first proposed the problems were things like the seller getting a survey for the pack but the mortgage company wanting their own survey ie not trusting the seller survey and also searches etc timing out

Also a lot of houses are put on a market just to see what's happens - toe in the water - but it was thought that if they had to pay a thousand or whatever for a seller pack then a lot fewer houses would be on the market. This may or may not be a good thing of course

oldernonethewiser

https://forums.moneysavingexpert.com/discussion/6673788/government-proposes-sensible-homebuying-reforms

Not the UK home buying process but something that applies in England.

Yesterday I read an article about an letting agency that introduced an AI call handling system Universally hated by their clients so is it being ditched? Nope it is being tweaked

jez9999

Yeah it's a shame they had to put the AI thing in there, it seems completely orthogonal to the other reforms.

https://forums.moneysavingexpert.com/discussion/comment/82046687#Comment_82046687

Other countries manage to deal with these things. Seems like pure problem stating to me.

Section62

https://forums.moneysavingexpert.com/discussion/comment/82046696#Comment_82046696

It's a shame they had to put the AI thing in there, it seems completely orthogonal to the other reforms.

Some might suggest that is what happens when you have a solution looking for a problem to fix.

jez9999

https://forums.moneysavingexpert.com/discussion/comment/82046706#Comment_82046706

You're suggesting that having to wait 5 months for the average house sale completion and 1/3rd of chains falling through isn't a problem to fix?

subjecttocontract

The home buying system works OK. It's been fine tuned over many years. It ain't broke so it doesn't need fixing. Sure it can be lengthy, frustrating, annoying and often ridiculous but it works. The millions of home owners are proof of that. Not worth spending time, effort or money. Focus on what's more important......e.g. NHS, defence, cost of living etc. Can't say more cos it'll get political.