Two out of every three current buyers and sellers have experienced a previous fall-through in the past 12 months, research claims.

A survey of 574 users by conveyancing comparison website reallymoving.com found that buyers and sellers changing their minds was behind almost a third (29%) of all property transactions that fall through before exchange.

The findings reveal support for the Government’s proposed reservation agreements, which are likely to be trialled in early 2020, with 67% of buyers and sellers believing they would have benefited from the agreements.

Other reasons for a transaction collapsing were survey issues (17%) and difficulties obtaining mortgage finance (15%). Another 11% had issues in the chain, while 7% said they were gazumped and 8% reported getting gazundered.

Rob Houghton, chief executive at reallymoving, said: “The system for buying and selling property in England and Wales is fundamentally unfair, requiring both buyers and sellers to commit considerable sums of money to a process in which they are entirely unprotected.

“People are also forced to make life-changing decisions about moving to a new area, perhaps changing jobs and schools, while at any moment the other side can pull out of the deal without consequence.”