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HM Land Registry: new strategy and an open approach to data
It will all be about speed, simplicity and an open approach to data at HM Land Registry from now on, it says as it publishes its five-year strategy document.
Noting the need for innovation, HM Land Registry says: “We safeguard land and property ownership worth in excess of £4 trillion, including around £1 trillion of mortgages. The Land Register contains more than 25 million titles, showing evidence of ownership for some 84% of the land mass of England and Wales.”
To read the document in full, please visit: www.gov.uk/government
At the time of the launch, Lord Henley, Parliamentary Under Secretary of State at the Department for Business, Energy and Industrial Strategy, said: “HM Land Registry’s new Business Strategy sets out the programme of work towards innovation and transformation. As a critical component of the UK’s national infrastructure, HM Land Registry’s work to make conveyancing simpler, faster and cheaper fits in with the government’s Industrial Strategy and looks forward to a digital future.”
Part of the new strategy is called “Digital Street”. HM Land Registry is creating a pilot digital register for a small selection of properties by the end of 2017. This pilot register will be fully machine-readable and able to be updated instantly. HM Land Registry says Digital Street will contribute towards a property industry where people will buy, rent, sell, finance, build and manage property with ease.
Graham Farrant, HM Land Registry Chief Executive and Chief Land Registrar, explained: “Our Digital Street project is exploring how land registration might work in 2030. This ground-breaking research will put us at the forefront of land registration innovation, both at home and abroad. By publishing our data we’ll maximise its use, benefiting wider society, and driving innovation in the digital economy.”