Conveyancing is the least visible part of buying a home and the part most likely to derail it. This guide explains what actually happens between an accepted offer and getting the keys, what property searches and the TA6 form genuinely check, why gazumping is legally possible in England and Wales, and the substantial reform package the government announced in June 2026 aimed at fixing the system's worst problems.
Figures below reference GOV.UK's Home Buying and Selling Reform consultation and roadmap, the Law Society's TA6 Property Information Form guidance, and published industry analysis, current to mid-2026.
1. The conveyancing process, step by step
Conveyancing is the legal and administrative process of transferring ownership of a property from seller to buyer. Broadly, it runs through the same core stages regardless of which conveyancer or solicitor you use, though the exact sequence and pace can vary considerably.
- Offer accepted. At this point in England and Wales, neither party is legally bound, either side can still withdraw without penalty right up until contracts are exchanged.
- Conveyancer instructed. Your solicitor or licensed conveyancer begins drafting and reviewing contracts, and requests key documents from the seller's side.
- Searches and enquiries. Local authority, environmental, and other searches are ordered, and pre-contract enquiries are raised based on the seller's disclosures.
- Mortgage offer and survey. Your lender issues a formal mortgage offer once satisfied with the valuation and your application; a separate survey, if commissioned, happens around the same time.
- Exchange of contracts. Both sides sign identical contracts, a deposit is paid, and a completion date is fixed. From this point, both parties are legally committed.
- Completion. The remaining balance is transferred, ownership legally passes, and you collect the keys.
2. What property searches actually check
Property searches are a core part of conveyancing due diligence, and each type checks something genuinely distinct, so understanding what each one actually covers helps make sense of why several different searches are typically ordered rather than just one.
These searches take time to come back, often several weeks depending on the specific local authority's processing speed, and are one of the more common sources of delay in a typical transaction, since a purchase generally can't proceed to exchange until the results are in and reviewed.
3. The TA6 form and the 2026 revision
The TA6 Property Information Form is the Law Society's standard questionnaire completed by the seller at the start of the conveyancing process, covering matters including disputes, notices affecting the property, alterations and building works, guarantees, warranties, and insurance history. It forms part of the buyer's pre-contract enquiries, and incorrect or misleading answers can expose the seller to a claim for misrepresentation.
An earlier proposed expansion of the TA6 (a 5th edition running to more than 30 pages) was withdrawn after sustained opposition from conveyancers, who were concerned it shifted an unreasonable advisory burden onto solicitors and increased sellers' misrepresentation risk over matters they often couldn't reasonably be expected to know. A simpler, 6th edition version, developed with over 1,200 industry professionals, became mandatory for Conveyancing Quality Scheme members on new instructions from 30 March 2026. If your transaction started before that date using an earlier version, that version can continue to be used for your specific case.
4. Exchange versus completion, and why gazumping is possible
The distinction between exchange of contracts and completion is the single most important structural feature of the current English and Welsh system, and the direct reason gazumping (a seller accepting a higher offer from a different buyer after already agreeing a sale) and gazundering (a buyer reducing their offer shortly before completion, knowing the seller is under pressure to proceed) are both legally possible. Until contracts are formally exchanged, neither party is bound by the agreed price or terms, no matter how far the process has progressed, surveys commissioned, mortgage offers issued, removal vans booked.
Only at exchange, when both sides sign matching contracts and a deposit changes hands, does the transaction become legally binding, with a fixed completion date. This is why the period between offer acceptance and exchange, often the majority of a transaction's total timeline, carries genuine risk for both buyer and seller, and why the reform proposals discussed below specifically target moving the binding point earlier.
5. The scale of the current problem
Government figures put the average UK property transaction at around 120 days from offer to completion, and roughly one in three transactions currently falls through before reaching completion, a substantial rate of wasted time, cost, and stress across the system. Around 1.2 million residential property transactions take place in the UK each year, supporting an estimated £100 billion in annual economic activity and around 1.2 million jobs across estate agency, conveyancing, surveying, mortgage lending and related sectors, so inefficiency at this scale carries genuinely significant economic weight, not just individual frustration.
6. The June 2026 reform package
On 19 June 2026, the government announced a substantial package of home buying and selling reforms, following a consultation that opened in October 2025, describing it as the biggest shake-up to the home buying system in decades. The government's own estimates suggest the full package could cut average transaction times by around four weeks and save first-time buyers an average of £650 through fewer failed transactions and reduced duplicated costs.
| Proposal | What it would change |
|---|---|
| Upfront sales packs | Sellers and agents would provide key property information, condition, leasehold costs, chain position, at the point of listing rather than after an offer is accepted |
| Binding conditional contracts | Would make a transaction legally binding much earlier, potentially once an offer is accepted, with financial penalties for withdrawing without valid reason |
| Digital property logbooks | Standardised digital records linked to Unique Property Reference Numbers and Land Registry data, shared securely between all parties in a transaction |
| Digital identity verification | A single, reusable identity check rather than the current average of 5.4 separate identity checks across different professionals in one transaction |
| Estate agent regulation | A new Code of Practice and proposed mandatory minimum qualifications for agents, addressing what's described as one of the least regulated parts of the current system |
Most of the digital and information-sharing proposals are, in effect, modernising existing processes. The binding conditional contract idea is structurally different: it would remove the ability to gazump or gazunder during the current pre-exchange period entirely, by making the commitment binding far earlier than it currently is. This directly addresses the root cause of the risk described above, rather than simply speeding up the paperwork around it.
As of mid-2026, the TA6 6th edition revision is already in force (from 30 March 2026), but the wider package, sales packs, binding conditional contracts, and mandatory estate agent qualifications, requires further consultation and legislation, with a timeline extending toward the end of the current Parliament. Treat the reform package as a clear direction of travel rather than the current legal position, and check GOV.UK's own reform roadmap for the confirmed, current status before relying on any specific provision.
7. Frequently asked questions
Can a seller accept a higher offer after agreeing to sell to me?
Yes, this is legally possible in England and Wales, known as gazumping, because neither party is bound by an agreed sale until contracts are formally exchanged. Until that point, either side can withdraw or renegotiate, regardless of how far the process has progressed.
What does the TA6 form actually cover?
The TA6 is completed by the seller and covers matters including disputes, notices affecting the property, alterations and building works, guarantees, warranties, and insurance history. A revised 6th edition became mandatory for Conveyancing Quality Scheme members from 30 March 2026.
What is a chancel repair search and do I actually need one?
It checks whether a property could be liable to contribute toward maintaining a nearby historic church chancel, a genuine but rare liability in parts of England. Your conveyancer will advise whether it's relevant for your specific property based on its location and history.
Has the 2026 home buying reform package become law yet?
Partially. The TA6 form's 6th edition is already mandatory from 30 March 2026. The wider package announced in June 2026, including upfront sales packs and binding conditional contracts, still requires further consultation and legislation before taking effect.
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