Government proposes the ‘biggest shakeup to the homebuying system in this country’s history’

23 companies have signed-up to Project 28, setting an ambitious 28-day target to take deals from sale agreed to exchange.

The government is still "considering the recommendations of the RoPA report", three years after it was published, says Housing Minister Eddie Hughes. There's no update on a timeframe.

Trade body estimates that failed transactions cost consumers around £260mn a year, while estate agents and conveyancers lose c.£1bn, and approximately 4 million working days annually.