Land Registry to share data with law firms to cut conveyancing errors Mortgage Strategy

Img

The Land Registry has begun to share data with law firms in a bid to cut down on the 800,000 incomplete applications it receives a year.  

The agency says faulty applications cost the sector up to £19m a year and slow down registrations. 

These mistakes range from wrong names or title numbers on applications, to missing evidence and incorrect ownership details. 

However, the body says when looked at firm by firm, the percentage of applications with avoidable mistakes varies from 0% to 24%, and will now target firms that make the highest number of mistakes, that require follow-up requests, or requisitions. 

It says: “HM Land Registry is now sending data to customers on the percentage of their applications where these requisitions could be avoided before the application is submitted.”    

It adds: “The aim is for registrations to be processed first time, without the need for clarification or further information to support the application.” 

The body says that, based on average pay levels in the sector, “avoidable” clerical errors cost around £5 each, while chasing third parties for a document or consent costs £30. 

The Council for Licensed Conveyancers chief executive Sheila Kumar adds: “Many conveyancing practices are doing a great job and we have seen others make recent progress too, so we know there is scope for practices that are not performing as well to improve.  

“We are already using data from the Land Registry as part of our risk profiling of individual practices and we expect conveyancers to make use of this data and the training available from the Land Registry to improve their services.” 

The Land Registry adds that it already offers free live and self-service training “on how to get applications right first time and has trained 5,000 people in law firms over the past six months”. 

In February, the agency said it would introduce digital checks to cut back on simple application mistakes, which will save the department an estimated 300,000 hours a year by 2028. 

Also, on 4 February, housing minister Matthew Pennycook wrote to Land Registry chief executive and chief land registrar Simon Hayes, saying that he expected the agency to “digitalise and modernise its systems and services.”

The minister added that more broadly he expected the body to “digitalise and improve the home buying and selling process,” in line with the government’s target of building 1.5 million homes over the next five years. 


More From Life Style