Question to the Ministry of Housing, Communities and Local Government:

To ask the Secretary of State for Housing, Communities and Local Government, if her Department has made an assessment of the potential merits of introducing protections for buyers in the final stages of purchasing a home whereby the formal acceptance of an offer creates a legally binding contract between buyer and seller.

We recognise that the home buying and selling process in England and Wales is inefficient and costly for consumers and professionals with one in three property transactions falling through. We continue to review evidence from other jurisdictions, including on protections such as reservation agreements, as we consider next steps.