‘Transactions in seconds’ promises Land Registry under digital plan

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The Land Registry has promised to speed up homebuying so that some transactions are completed in seconds.

People find the process of buying property confusing and stressful, the agency admits, and says its new digital strategy will improve this.

Up to 70% of registration changes will be possible using digital tools by 2025, Land Registry says, as it launches its ‘Strategy 2022+’ and a three-year business plan for England and Wales.

Land Registry says it wants to work with the property industry to create a paperless and transparent process for buying and selling homes.

It also wants to see how it can make conveyancing more efficient where there are hold-ups.

Currently, one in five applications to Land Registry (more than 3,500 applications every day) require a follow-up with the applicant to resolve an issue. This increases to around two in three for more complex cases.

Remove friction

Simon Hayes, Land Registry CEO, says: “The very high level of activity in the property market in recent times has underlined the urgency with which all players in the market need to work together to improve the system.

“With property transactions taking record time to complete, it is imperative that we work as partners to innovate and remove friction so that the process is as quick and painless as possible.”

Beth Rudolf image

Beth Rudolf, director of delivery at the Conveyancing Association, says: “In the past HM Land Registry’s five-year strategic plans have referenced the move to digital/machine-readable and the creation of notional registers but this time it has already started the process through the delivery of the Digital Registration Service.”

A Land Registry programme to boost property sales signed up less than 14% of council land charge schemes more than four years after it launched, it was revealed in July.


Go to Publisher: Proptech Archives – The Negotiator
Author: David Callaghan