The government unveiled significant plans last week to modernise the house buying and selling process. The reforms focus on digitalising and making property and identity data accessible electronically. This will enable mortgage companies and surveyors to access essential information more easily.

It is believed that these changes will help to prevent unexpected issues arising late in the process, reducing the associated waste of time and money.

In Norway, property transactions are typically completed within approximately one month, and these reforms take inspiration from how this has been achieved.

HM Land Registry (HMLR) is playing a key role in these changes, with the next step being a 12-week project to determine the design and implementation of agreed rules to ensure data can be easily shared. Over the coming months, HMLR will also collaborate with councils on opening up more of their data and making it digital.

For estate agents and surveyors, these reforms could have a significant impact by reducing the time and money lost when sales fall through.

See: https://www.gov.uk/government/news/home-buying-and-selling-to-become-quicker-and-cheaper