HM Land Registry- a transformation to look forward to?
The latest report released this month from an organisation enmeshed in most property transactions across England and Wales, discusses what needed to change due to the pandemic and why things won’t be going back to the way it was, pre-pandemic.
Transaction processing has been made easier:
1. Paperless transactions
2. Electronic signatures
3. Digital mortgages
4. Digital registration services
5. An Application portal
The advantage is undisputed. Automating many of the services used allowed property transactions to continue through the various phases of lockdown experienced in the UK.
The government has responded by increasing the pace of switch to digital, to support the creation of a true digital property market.
Probably the most dramatic pivot was removing the need for in-person signature to complete property dealings.
Electronic signatures and digital identity checking are a thing of the present. Two important, permanent pieces of the digital conveyancing picture, sanctioning complete online and paperless transactions.
Stephen Ward of the Council for Licensed Conveyancers stated: “HM Land Registry’s policy statement of electronic signatures was a big milestone. The plans for physical witnesses to be replaced by technology that digitally verifies the signature will be something that we expect to see early next year.”
A digital mortgage service called ‘Sign your mortgage deed’, allows users to add information to the register without caseworker intervention. A first for HM Land Registry.
Digital registration service
This automates error checking. Customers can ensure the correct information is provided, before submitting applications, thus reducing delays.
The service was awarded the Real IT Awards 2021: Delivering Excellent Customer Experience.
An applications portal
A portal called ‘View My Applications’ which allows customers to speedily view the status of their current applications on one screen.
Clearly HM Registry are preparing for the increasingly digital future. Are you?
How do you see this making your life easier?