The UK government plans to digitalise data shared during property sales to expedite the homebuying process and reduce transaction delays. A 12-week project launched by Labour will focus on designing a system for data sharing among conveyancers, lenders, and other stakeholders. This initiative aims to modernize the traditionally paper-heavy process, ultimately saving time and minimizing the stress associated with homebuying. Beyond this, Labour's housing strategies include building new homes and empowering leaseholders over service charges. With the average transaction taking months, digitalisation is viewed as essential for transforming the sector.
Labour's digitalisation project aims to streamline the homebuying process by allowing easier sharing of property transaction data, reducing delays and home sale failures.
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