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Government considers gazumping crackdown

Oct 27, 2017

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The Government is examining the home-buying process, probing the unscrupulous practice of gazumping - where people who have already had an offer accepted on a home can be outbid by rival buyers.  

The ‘call for evidence’ from the government looks to address issues across the whole sector, from ways to tackle gazumping and reduce time wasting to increasing commitment to a sale. The government want to hear from everyone with an interest in home buying including estate agents, solicitors and mortgage lenders.

Communities secretary Sajid Javid said: “We want to help everyone have a good quality home they can afford, and improving the process of buying and selling is part of delivering that. Buying a home is one of life’s largest investments, so if it goes wrong it can be costly. That’s why we’re determined to take action to make the process cheaper, faster and less stressful."

For more information visit: https://www.gov.uk/government/news/government-acts-to-improve-the-home-buying-process