Government Plans £116m Property Transaction Cost Savings
UKPulse News Desk
The government has announced plans to reduce costs for businesses in the property transaction chain by £116 million annually through streamlined homebuying and selling processes.
- The measure forms part of a broader deregulation package worth nearly £800 million per year.
- Full details are scheduled for release on 28 October, coinciding with the Budget announcement.
The government has announced plans to reduce costs for businesses in the property transaction chain by £116 million annually through streamlined homebuying and selling processes. Chancellor John Healey disclosed the measure as part of a broader deregulation package worth nearly £800 million per year.
Ministers have committed to overhauling the transaction process through the introduction of binding conditional contracts at an early stage and mandatory upfront property information when homes are listed.
What this means for you: If you're a business in the property transaction chain, you may benefit from reduced costs and streamlined processes.