A major shake-up in the way we buy and sell our homes is on the way after the Land Registry announced changes to its rules to allow digital land registration.
The changes will include for the first time the ability to use fully digital conveyancing documents with e-signatures, removing the need to use paper deeds and potentially speeding up the conveyancing process and benefiting thousands of home buyers and movers.
All ownership of land in England and Wales must be recorded at the Land Registry, which is a statutory body. Anyone buying or selling property, or taking out a mortgage, must apply to the Land Registry to have that title recorded. Currently the organisation holds the information relating to land and property ownership worth more than £4 trillion, including around £1 trillion of mortgages.
Speeding up the registration process
After a public consultation on the changes last year, the organisation is ready to move into the 21st century with its digital package that will speed up the process of registration while ensuring the registry is safe from cyber-attacks and digital fraud.
Graham Farrant, the chief executive and Chief Land Registrar, said: “Our customers are central to everything we do, and we want to make dealing with us quicker and simpler by providing more services through digital technology.
“These changes are an important enabler for our digital transformation, and I want to thank our customers for their positive responses to the consultation.”