HM Land Registry to remain public
Posted: 25th November 2016
The Government will retain the HM Land Registry in the public sector and the focus will now be on the service becoming a ‘more digital data-driven registration business.’
In his Autumn Statement this week, Chancellor Phillip Hammond announced that ‘modernisation will maximise the value of HM Land Registry to the economy’ and that this should be achievable without the need for Exchequer investment.
Earlier in the year, after former Chancellor George Osborne put forward the proposal, a petition calling on the government to drop its renewed plans to privatise the Land Registry gathered more than 300,000 signatures. This latest decision has been welcomed by a large majority of the public, politicians and the housing industry.
The 150-year-old registry oversees the formal list stating what person or company owns land in England and Wales. Moving forward, the registry hopes to include features such as e-signatures - an innovation that will move the business towards state-of-the-art conveyancing.