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Building Regulations and Accreditation
News Release from: Hips Direct | Subject: E-conveyancing pilot service
Edited by the Buildingtalk Editorial
Team on 13 April 2006
'e' conveyance pilot launch October 2007
The go-ahead has been given for Land Registry to launch its e-conveyancing pilot service (the system to be used for domestic sales) in October 2007.
Baroness Ashton of Upholland, Parliamentary Under Secretary of State for Constitutional Affairs, has given the go-ahead for Land Registry to launch its e-conveyancing pilot service (the system to be used for domestic sales) in October 2007 This follows consultation with stakeholders, who have indicated that the housing market's quieter period between October and January would be the best time to launch the new system
This article was originally published on Buildingtalk on 13 Apr 2006 at 8.00am (UK)
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The date has also been chosen to give the industry time to adjust to Home Information Packs, which will be introduced on 1 June 2007.
The 2007 pilot will represent one of a number of incremental steps towards full e-conveyancing.
It will follow the launch of a prototype of the Chain Matrix in 2006, in Bristol, Fareham and Portsmouth.
The Chain Matrix is a key component of the system which will provide information about each transaction in a chain, thereby introducing much greater transparency than at present.
Both exercises will be limited to voluntary users.
Land Registry Chief Executive, Peter Collis said: "The e-conveyancing programme will be introduced incrementally to the property market and initially on a voluntary basis".
"It will, nonetheless, be a massive change for everyone involved which makes it important that we proceed in manageable steps and in accordance with a clear timetable".
"Stakeholder feedback has helped us to identify a preferred date for implementing compulsory use of the electronic system by 2009 or 2010".
"We will continue to listen to the stakeholder community and to refine our plans as appropriate".
E-conveyancing will transform the current paper-based conveyancing system into electronic documents, requisitions and signatures and is a central pillar of the government's agenda to modernise public services.
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