Land Registry privatisation plans cancelled by Government

by Property 118

13:59 PM, 24th November 2016
About 2 years ago

Land Registry privatisation plans cancelled by Government

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Land Registry privatisation plans cancelled by Government

land registryFollowing 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.”



Comments

Mike Amapola

15:02 PM, 25th November 2016
About 2 years ago

I can only say that it is the right decision. The prospect of it going into the hands of some corporation was quite worrying as everyones info would be banded about and sold on to who knows who. However, it is long overdue a modernisation. Having just had a house sale delayed for over 6 weeks due to the slow ness of the LR to respond to searches.

Old Mrs Landlord

16:40 PM, 25th November 2016
About 2 years ago

About the first sensible decision this government have made. It's not even as it's a drain on resources: the Land Registry actually makes a profit for the national exchequer. Sadly it's much too late for our water and power supplies. Regardless of the "selling off the family silver" aspect, these services are a matter of national security and there should never have been any question of privatising them imo.

terry sullivan

10:11 AM, 26th November 2016
About 2 years ago

i would privatise--however govt says no--so let private sector compete with it


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