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Land Registry announces new plans to speed up home buying and selling

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The Land Registry yesterday announced a new business strategy, aimed at speeding up the buying and selling of homes in England and Wales.

The new strategy is also aimed at making the process cheaper and simpler.

The Land Registry aims to digitise 95% of its daily transactions within five years, and to create a more definite record of property ownership.

A pilot digital register for a “small selection” of properties will be in place by the end of next month.

Called Digital Street, this will be “machine readable” and capable of being updated instantly.

The Land Registry said: “Digital Street will contribute towards a property industry where people will buy, rent, sell, finance, build and manage property with ease.”

The new five-year plan is aimed to make it the world’s leading land registry for speed, simplicity and an open approach to data.

The Land Registry currently contains over 25m titles showing evidence of ownership of some 84% of the land mass of England and Wales.

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Source:: Land Registry announces new plans to speed up home buying and selling