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 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.

Key Facts

6

7

Overview of Land Registry Services

Looking for or selling a property Pre-exchange Exchange of contracts Completion Living in the property Sale & Purchase Process Land Registry services Considerations

• Find a Property
• Property Price

Information

• House Price Index
• Flood Risk Report
• Property Alert
• First Registration
• Transfer of Part
• Dispositionary First

Lease (e.g. flat)

• Dealing:
• Discharge

mortgage

• New owner
• New mortgage
• Official Search
• Search of the

Index Map

• Official Copies
• Bankruptcy Search
• Land Charges

Search

• Voluntary First

Registration

• Dealing:
• Change of

address

• Death
• Marriage
• Re-mortgage
• Discharge

What’s the property worth? I need a mortgag e. Is there a risk of flooding? I am worried about property fraud. My circumstances have changed, are my details up to date? I want to raise some money. Due Diligence: Is the land registered? Is there a mortgage? Who owns the boundary? Any other constraints on the property? Is the priority of my transaction protected? Are all the legal interests in the property protected? How big is the garden? Statutory Service Citizen Professional Add value or Data Service

Registration services 18600, (17%) Information Services, 85900, (79%) Enquiries, 3800, (4%)

Daily Intake

Current Services

8

Units Per Post Per Day Total Cost Before Dividend

Our vision and values

Your land and property rights: guaranteed and protected

We give assurance We have integrity We drive innovation We are professional

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  A 60% increase in productivity for land registration services leading to a reduction in fees in 2016/17  Special Dividends totalling £200m  Easy access for all to 100% of licensable data either for free or at marginal cost  A new, free, on-line service for the public to protect their property from fraud  An IT architecture to support digital by default  Digitisation of local land searches reducing the time and cost of conveyancing  An engaged workforce aligned with the success of the organisation Current Position  30% increase delivered 50% fees reduction for electronic applications implemented April 14  £200m Dividends paid to HM Treasury  56% of licensable data available  Award winning Property Alert service delivered  IT Architecture being upgraded  Primary legislation delivered  Action plans being implemented Average FTE by year 2008 2015 No of offices 26 14 No of staff in assets and FM 300 18 Sq m of office space 250k 72k File stores 12 1 Running costs per year £70m £15m

Business Strategy 2013-2018

10

Units Per Post Per Day Efficiency

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

Our ambitious transformation will deliver significant beneficial

• utcomes 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  Land Registry Transformation

16

Local Land Charges - the next 12 months

17

 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)

Local Land Charges - timeline

18

19

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

Requisitions – facts and figures

20

Discharges

• Obtain as definitive a Redemption Statement as possible
• Warn client against further borrowing on the account

Restrictions

• Obtain consents and certificates from 3rd parties

Variations between the register, transfer and charge

• discrepancy in name,
• not accounting for a registered owner
• r 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

Requisitions – reasons

21

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

Requisitions – reasons