HALIFAX Estate Agents has welcomed the announcement that the government is to introduce the seller's information pack legislation.

Research by Halifax shows that many people think the current house buying/selling process is out of date, plagued with delays and very expensive because of the uncertainties involved with property sales falling through.

It is envisaged that the introduction of the pack will transfer around £400 of the cost of moving home from the buyer to the seller.

As most sellers are also buyers, the pack will have little impact on the costs for home movers and money will be saved through the reduction in the number of property sales that fall through.

Halifax says the introduction of the pack is good news for first-time buyers who should find it cheaper to get on the housing ladder, as they will no longer have to pay for a condition report and local searches.

The inclusion of the home condition report, which will rate the condition of the property in an easy to understand manner, will enable the buyer and seller to address any structural condition problems before an offer is agreed. Much of the legal work is pre-prepared so once the offer is made and accepted the exchange will be much quicker.

Jane Pridgeon, managing director of Halifax, said: "The introduction of the seller's pack will make home buying and selling faster and easier for the customer. Estate agents, solicitors and surveyors now need to work together, using new technology to ensure the new system is as efficient and cost effective as possible."