Conveyancing goes digital
Changes are on the way to make conveyancing simpler, faster and cheaper with the introduction of digital services.
The Government have approved changes, due to come into effect on 6 April 2018, to allow people to buy and sell their homes without the need for paper deeds. As well as improvements for consumers, enabling digital land registration is important to the HM Land Registry’s ambition to become the world’s leading land registry for simplicity, speed and transparent approach to data, all of which are outlined in their five-year Business Strategy 2017 to 2022.
Digital alternatives to paper conveyancing and registration will see land transaction and registrations be done using e-signatures, with the protection and security of the register enhanced against threats from digital fraud and cyber-attacks. While HM Land Registry continues to explore ways to improve conveyancing, the introduction of fully digital conveyancing documents such as mortgages and transfers comes in response to customer feedback whereby modernisation and simplification of services are sought after.
What does it mean for conveyancers?
Once the digital transformation programme begins, conveyancers will need to make sure they are working quickly and effectively, as Land Registry will be able to publish comparative data on their speed and efficiency. But as much the technology will bring transparency for consumers, it will also give conveyancers the ability to track their firm’s performance and make improvements to services, with the benefit of support from Land Registry for better data and overall advice.
What does it mean for buyers?
Having conveyancer performance being shared in the public domain will allow home owners to better understand how well their conveyancer functions in the market before committing to using them. As well as that, home owners can expect fast, customer-friendly services that cut down on duplication, improve understanding, protect against fraud and cut out unnecessary costs and delays.
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