Graham Farrant Chief Executive and Chief Land Registrar

Graham Farrant Chief Executive and Chief Land Registrar

Created in 1862

Our history

24 million titles Who we are and what we do

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

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

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

Current Services Enquiries, 3800, (4%) Daily Intake Registration services 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 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 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 Average FTE by year Units Per Post Per Day Efficiency 10

MapSearch

Free award-winning service to help combat fraud Property Alert

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 21 Wrong type of application