BBC Money Box

Money Box Live: House Sale Nightmares

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Major reforms are planned to shake up house selling in England, Wales and Northern Ireland.

The government hopes the plans could end gazundering and gazumping and make buying and selling homes faster, cheaper and less likely to fall through.

Gazumping happens when a seller switches buyer at the last minute, usually because someone else can pay more, gazundering is where a buyer suddenly drops their agreed offer just before contracts are exchanged.

One in three house sales fall through before exchange. This costs sellers £400m and the wider economy £1.5bn each year, according to the Ministry for Housing, Communities and Local Government.

Plans to reform the system include the introduction of a sellers’ pack, similar to the system operating in Scotland.

Felicity Hannah is joined by Nathan Emerson, the CEO of PropertyMark (a professional body for property agents) and David Bridge, Head of Conveyancing at the Dorset-based solicitors Kiteleys .

Presenter: Felicity Hannah
Producer: Craig Henderson
Production co-ordinator: Jacqui Johnson
Editor: Jess Quayle
Senior News Editor: Sara Wadeson

(This programme was first broadcast at 3pm on Wednesday July 22nd, 2026)
19 Aug English United Kingdom Business

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