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Enact has been working closely with Land Registry to introduce a service which aims to streamline the conveyancing process with the introduction of digital signature technology.

The system which is currently running alongside the traditional paper mortgage system, creates a digital mortgage deed which is then viewed and compared to the paper one by the borrower before being signed with the borrowers digital signature. This record is then used to update the register.

Early trials of the project, which has been running with the Coventry Building Society and a small number of their borrowers since March, have been overwhelmingly positive. Borrowers have noted the ease of use of the system as well as the benefit of not having to find someone to witness their signature.

This advancement is part of a series of improvements which Land Registry is aiming to launch in 2016 with the aim of offering a full end-to-end process which will allow:

  • The conveyancer to create a legal mortgage online
  • The borrower(s) to sign online
  • The conveyancer to make effective and submit electronically for registration
  • Simultaneous registration to offer earlier protection of simple charges
  • Adding notifications to the conveyancer to reduce requisitions, e.g., warn them when the names on the mortgage do not match the register
  • Adding improved identity verification of the borrower using the GOV.UK Verify service.

enact’s Managing Director, Ben Carroll commented: “Using Land Registry’s Digital Mortgage service will allow enact to remove the only non-digital step in our remortgage process. It will offer a more streamlined and responsive service to our customers while reducing risk through GOV.UK Verify. We applaud Land Registry’s efforts to modernise the conveyancing process.”

James Rippin, product manager for Land Registry’s digital services directorate commented “enact have quickly developed their systems to trial an early version of our Digital Mortgage. This has enabled us to gain invaluable feedback and make further improvements as we develop the service to provide a more efficient user experience for all.” To find out more visit http://blog.landregistry.gov.uk/category/digital-services/