Land Registry backs trial to reduce sales fall-throughs
A trial to reduce sale fall-throughs by allowing sellers to correct property data errors before the sale process begins has been given the go-ahead by the Land Registry.
The proof of concept, which is being run by the Residential Logbook Association (RLBA), is part of wider reforms to the home buying and selling process.
Under the scheme, homeowners will be able to view Land Registry title data via digital property logbooks before putting their homes on the market.
Out-of-date information
Sally Holdway (pictured), Buying & Selling Lead for the RLBA, says: “We believe we can reduce the number of transactions that fall through because of incorrect or out-of-date information held by HMLR, for example, because details have changed since the last time the property transacted.
“Giving sellers early sight of their data and helping them to correct mistakes will significantly reduce problems further down the line during a sale.”
Having clear, reliable information at the right time really matters.”
Terry Robertson, Deputy Director of Strategy at HM Land Registry, adds: “Buying or selling a home is one of the most important transactions people make, and having clear, reliable information at the right time really matters.
“HM Land Registry’s Strategy 2025+ puts the customer at the heart of everything we do, and supporting this proof of concept allows us to learn how homeowners could securely access their Land Registry data earlier and use it with confidence – so they can spot issues sooner and be better prepared when they come to sell.”
The trial will run for up to 12 months.
The post Land Registry backs trial to reduce sales fall-throughs appeared first on The Negotiator.
Author: Gemma
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