The Law Society of England and Wales has urged ministers to streamline the home buying and selling process with caution, warning that poorly designed reforms risk unintended consequences for the wider property market.
Responding to two government consultations on reforming transactions and on the provision of “material information” in property listings, the professional body said change must improve efficiency without undermining consumer protection or adding further pressure to already stretched conveyancing firms.
Its submission, based on extensive engagement with conveyancers, argues that the system’s problems stem from multiple structural issues rather than a single point of failure. It cautions that there is “no silver bullet” and that piecemeal reform focused solely on listing information or technology will not by itself reduce delays or fall-throughs.
The Society said the role of conveyancers has expanded significantly in recent years as layers of legislation and regulation have been added, increasing complexity and workloads. Any new measures, it said, must avoid further burdening the profession and should be designed so that both large national practices and small independent firms can comply sustainably.
PROPERTY LISTINGS
On material information requirements for property listings, the Law Society supports greater transparency but warns against overstating their impact.
It argues that most delays arise not from missing information at marketing stage, but from later discoveries of legal or financial problems, inconsistent data and a lack of early professional verification.
It also cautions against a single prescriptive checklist, noting that what is “material” can vary by buyer and transaction stage.
CLEARER DETAIL
The Society is calling for clearer detail on the government’s proposals, phased implementation, pilots before national rollout and realistic transition periods.
It also backs stronger intervention to raise standards among estate agents through consistent qualifications and enforceable professional benchmarks, saying this would improve trust in information presented to consumers.
While supportive of the use of technology to modernise conveyancing, the Law Society says digital tools must be accompanied by broader regulatory and process reform if they are to deliver tangible benefits for buyers, sellers and practitioners alike.
IMPROVING TRANSPARENCY
Law Society president Mark Evans (main picture, inset) says: “We support the objective of improving transparency and consumer understanding in residential property transactions. However, our evidence strongly suggests that material information alone will not resolve the structural causes of delay or failed transactions in the home buying and selling process.
“Delays and transaction failures are rarely caused by a lack of information at listing stage alone. They more commonly arise from late discovery of legal or financial issues, inconsistency of data, and a lack of early professional verification.
“Any reform should initially focus on limited, high-quality material information, improvements within the existing estate agent framework, and realistic lead-in periods that allow the market to adapt.”
