Graham Farrant Chief Executive and Chief Land Registrar Created in - PowerPoint PPT Presentation

Graham Farrant Chief Executive and Chief Land Registrar

Created in 1862

Our history

Who we are and what we do 24 million titles

Who we are and what we do Percentage of the land mass registered

Key Facts Key Facts The Land Register of England & Wales  contains over 25 million titles  covering more than 87% of the land mass and  £4 trillion of property value. • Land Registry:  Employs over 4,350 people .  processes 7.2m updates each year  Receives 24m requests for information and  0.7m calls to its contact centre.  Receives 99% of information requests and 73% of registration applications electronically.  Provides e-services to 12,000 organisations and 140,000 individual professional users. 6

Overview of Land Registry Services What’s I want to the raise some property money. Due Diligence: worth? Is the land I need a Considerations My registered? mortgag circumstances Is there a mortgage? e. have changed, Who owns the How big is the are my details boundary? Is the priority of my Are all the legal garden? up to date? Any other transaction interests in the constraints on the protected? property protected? Is there a risk of I am worried about property? flooding? property fraud. Sale & Looking for or Exchange of Living in the selling a Pre-exchange Completion Purchase contracts property property Process • Search of the • • • Find a Property Official Search Property Alert • First Registration Index Map • Property Price • • Official Copies Transfer of Part Land Registry services Information • • • Voluntary First Bankruptcy Search Dispositionary First • House Price Index • Registration Lease (e.g. flat) Land Charges • Flood Risk Report • • Dealing: Dealing: Search  Change of  Discharge address mortgage  Death  New owner  New mortgage  Marriage  Re-mortgage  Discharge Add value or Data 7 Citizen Professional Statutory Service Service

Current Services Daily Intake Registration Enquiries, services 3800, (4%) 18600, (17%) Information Services, 85900, (79%) Units Per Post Per Day Total Cost Before Dividend 8

Our vision and values Your land and property rights: guaranteed and protected We give assurance We have integrity We drive innovation We are professional

Business Strategy 2013-2018 In 2012 Land Registry developed a 5 year Business Strategy for 2013 – 2018 to transform the organisation and our services. Over 2 years on, Land Registry has either already delivered the challenging targets or is working hard to deliver them. Business Strategy Targets to 2018 Current Position   A 60% increase in productivity for land registration services leading to a 30% increase delivered 50% fees reduction for reduction in fees in 2016/17 electronic applications implemented April 14   Special Dividends totalling £200m £200m Dividends paid to HM Treasury   Easy access for all to 100% of licensable data either for free or at marginal cost 56% of licensable data available   A new, free, on-line service for the public to protect their property from fraud Award winning Property Alert service delivered   An IT architecture to support digital by default IT Architecture being upgraded   Digitisation of local land searches reducing the time and cost of conveyancing Primary legislation delivered   An engaged workforce aligned with the success of the organisation Action plans being implemented Average FTE by year Units Per Post Per Day Efficiency 2008 2015 No of offices 26 14 No of staff in assets and 300 18 FM Sq m of office space 250k 72k File stores 12 1 Running costs per year £70m £15m 10

MapSearch

Property Alert Free award-winning service to help combat fraud

Making use of our data

E-services transactions 99% of information requests 73% of registration applications

Land Registry Transformation Our ambitious transformation will deliver significant beneficial outcomes for customers, and the economy. Land Registry will:  Be smaller, focussed on our core registration competencies  Be agile, resilient to fluctuations in the property market  More effectively combat registration fraud  Provide customers with 24/7 digital access  Improve the customer experience of land and property transactions  Streamline administrative and back office processes  Right size the estate, reducing costs and releasing property  Modernise our IT systems based on open standards and technologies  Release 100% of licensable data 16 

Local Land Charges - the next 12 months  Secondary Legislation – consultation and rules  Procurement of solutions/services  Design and build the register  Complete the detailed analysis of data in local authorities  Complete New Burdens Assessment  Develop migration plans  Start Full Business Case (FBC) 17

Local Land Charges - timeline 18

Requisitions – facts and figures • October - 226,009 applications awaiting processing • 87,167 awaiting responses to requisitions or expiry of notice periods • 2015-=16 year to date • over 300,000 requisitions • over 500,000 individual requisition points • over 4,000 requisition points every working day • Overall, Land Registry is raising a requisition in approximately 1 in 5 cases 19

Requisitions – reasons Discharges • Obtain as definitive a Redemption Statement as possible • Warn client against further borrowing on the account Restrictions • Obtain consents and certificates from 3 rd parties Variations between the register, transfer and charge • discrepancy in name, • not accounting for a registered owner • or some other variation between the register and deeds Execution of deeds • signature not being witnessed, or a witness’s details not being included, • Increases the risk of fraud 20

Requisitions – reasons Confirmation of identity • No confirmation or incomplete confirmation still a rejection point Fees • Check the Fee Order and use the Online Fee Calculator on GOV.UK Address for service • Check with your client what contact address(es) should be entered in the property, avoid conflicting information Errors in lodging applications electronically • Poor quality scanned images • Multiple documents in one scanned file • Documents with missing pages/discrepancies • Incorrect deed attached • Applications made against the wrong or insufficient titles • Wrong type of application 21