A new end-to-end digital service aims to cut delays and reduce fall-throughs in the homebuying process across England and Wales.

Lloyds Banking Group, Connells Group and LMS have launched a fully digital homebuying service, bringing together lenders, estate agents and conveyancers in a single platform designed to address longstanding inefficiencies in the property transaction process.

The initiative will initially operate across residential sales in England and Wales, using LMS’s National Property Transaction Network to allow key data to be captured once and shared securely between parties. The aim is to reduce duplication, improve transparency and shorten transaction times, which currently average around five months.

ADDRESSING LONGSTANDING FRICTION

The traditional homebuying journey has been widely criticised for its fragmented structure, with multiple stakeholders often requesting the same information at different stages. This can lead to delays, uncertainty and, in many cases, collapsed transactions.

Industry data suggests around one in four property transactions fall through before completion, while buyers and sellers frequently cite poor communication, late discovery of issues and repetitive administrative tasks as key frustrations.

The new service seeks to address these challenges by moving critical checks — including identity verification, property information and source of funds — earlier in the process. This information is then shared digitally across all relevant parties, reducing the need for repeated checks and manual intervention.

EARLIER DATA, FEWER DELAYS

Under the model, sellers will be made “digital sale ready” at an earlier stage, with property and identity data collected upfront. Buyers’ financial positions will also be verified sooner through integrated checks, helping to establish transaction viability before significant time and cost are incurred.

Searches will be available at the point of listing, while conveyancers will have immediate access to key documentation, reducing administrative delays and enabling faster progression through the legal process.

The platform is supported by a number of technology providers, including Moverly, Credas, TM Group and Armalytix, with the aim of replacing traditional email- and paper-based workflows with a live data-sharing network.

INDUSTRY AND GOVERNMENT SUPPORT

Housing secretary Steve Reed said: “Too many people who have bought or sold a home will know this feeling all too well – months of waiting, chasing and worrying, with sales liable to fall through at any moment. It can quickly become a living nightmare.

“It doesn’t need to be this difficult and that is why we have set out bold proposals to shakeup the home buying and selling process.

“I’m pleased to see Lloyds Banking Group, Connells Group and LMS showing what’s possible by getting the right information to the right people earlier, cutting the delays and uncertainty that make moving home so stressful.”

Frances Cassidy, head of strategic & technology partnerships at Lloyds Banking Group, said: “Transforming the homebuying journey is about making one of the most important transactions in a customer’s life simpler, faster and more transparent.

“Our work with Connells Group and LMS shows what’s possible when estate agents, conveyancers and brokers work closely together, creating a more joined-up experience and greater certainty for everyone involved.”

Chris Rosindale, chief operating officer at Connells Group, said: “Society needs a faster, more reliable, fully digitised housing transaction system that increases certainty, reduces fall-throughs and supports housing mobility.

“We believe in reform that makes the system faster, more transparent and more reliable and are excited to be part of transformation in the sector.”

Nick Chadbourne, chief executive at LMS, said: “The industry has spent years diagnosing the problem. NPTN is infrastructure that delivers the solution.

“This initiative signals a serious move away from siloed processes and toward genuine market-wide reform.”

The partners said the service represents the first phase of a broader ambition to create a national network connecting agents, lenders, conveyancers and surveyors, with the potential to scale across the wider housing market.