The Tory 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.
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.