The single biggest reason transactions fail is someone simply changing their mind, latest findings from LRG’s Winter Sales Report, ‘The Homebuyer Reboot’, reveal.
When asked about their experiences with collapsed sales, 34% of buyers and sellers said it came down to cold feet – nearly four times as many as mortgage issues (9%) and far outstripping problems uncovered by surveys (3%).
The research, which surveyed 221 buyers and sellers across England and Wales, found overwhelming support for reform.
Some 80% back the introduction of legally binding offers – one of the key proposals in the government’s recent Home Buying and Selling Reform consultation, and a system already proven to work in Scotland. Binding offers would mean both parties are committed earlier in the process, reducing the window for cold feet to derail a sale.
THE SYSTEM ISN’T WORKING
Neil Louth (main picture, inset), Chief Executive Officer for The Acorn Group, part of LRG, says: “In most cases, these failures are preventable. When a third of transactions collapse because someone changed their mind, it’s clear the system isn’t working as it should. But the good news is that this is fixable.
“With more than 82,000 property sales collapsing in Q3 2025 alone, according to the TwentyCi Property & Homemover Q3 2025 report, the case for reform has never been stronger, and the government responded with what it described as “the biggest shakeup to the homebuying system in this country’s history.
“These changes could make a real difference to the thousands of families who simply want to move without the fear of it all falling apart at the last minute,” explains Neil. “People put their lives on hold during a transaction, and they deserve a system that gives them more certainty.”
UPFRONT INFORMATION
The key, according to LRG, is ensuring buyers have all the information they need to commit with confidence.
The group’s surveying team believes that upfront property condition reports – another key proposal in the reform consultation – could reduce cold feet by giving buyers clarity from the outset.
Louth adds: “If buyers know what they’re getting into early on, they’re far less likely to walk away later,” says Neil. “It’s about removing those unknowns that cause hesitation.”
