Government crackdown on gazumping

27th October 2017

Government crackdown on gazumping

The Government is to crack down on gazumping as part of plans to make buying and selling a home easier. It comes amid warnings that collapsing home sales cost consumers £270m a year, with 13% of homebuyers blaming gazumping for their deal not going through. Communities Secretary Sajid Javid has launched an eight-week review, saying he wanted to "hear from the industry" on how to streamline home-buying. One proposal includes “lock-in agreements” which would tie in both buyer and seller, creating a financial penalty if either pulled out.

The Sunday Telegraph (22/10/2017)