Land Registry privatisation plans cancelled by GovernmentMake Text Bigger
Following a consultation the Government has cancelled plans to privatise the Land Registry and will instead keep it as a publicly owned organisation.
The Government has indicated that the Land Registry should become more focused on digital data driven registration saying “modernisation will maximise the value of HM Land Registry to the economy and should be completed without a need for significant Exchequer investment.”
Chairman of The Conveyancing Association, Eddie Goldsmith, said “we are very pleased that within the detail of the Autumn Statement we have the announcement that HM Land Registry will now not be privatised. The Conveyancing Association responded to the consultation on this matter and the vast majority of our members were in favour of the Land Registry remaining in the public sector, so we are clearly very supportive of today’s clarification.”
“Interestingly, the Autumn Statement suggests that the Land Registry should become a more digital data-driven registration business and that modernisation will maximise the value of it to the economy. This, in effect, is a steer that it should focus on its core role of registration and delivering this through a digital process, which one assumes should include such things as e-signatures. We are fully supportive of moves towards an up to date digital conveyancing service as outlined in our recently published White Paper on modernising the home moving process. If we’re able to see the Land Registry moving swiftly in this direction then this ambition will be achieved much more quickly.”
“We are looking forward to engaging with the Land Registry to help it maintain that focus and to work together on securing a 21st Century conveyancing process.”
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