The UK government will attempt to expedite the home-buying process by banning underhanded practices such as "gazumping", where rival buyers can outbid people who have already placed an offer on a property. Communities Secretary Sajid Javid plans to make the property process “cheaper, faster and less stressful”. But there are concerns that this could lead to more homes being snapped up than would otherwise be the case.
The UK government will attempt to expedite the home-buying process by banning underhanded practices such as "gazumping", where rival buyers can outbid people who have already placed an offer on a property. Communities Secretary Sajid Javid plans to make the property process “cheaper, faster and less stressful”. The government is also contemplating offering "lock-in agreements" to stop purchases falling through, a problem that afflicts 25% of all sales.