Coventry Building Society trial paperless mortgages and conveyancing with Land Registry and enact

Customers of Coventry Building Society have been amongst the first to use a new entirely digital conveyancing and mortgage system developed by enact and Land Registry.

A small number of borrowers began using the system which includes legal online mortgages which are signed online before being made effective and submitted electronically for registration.

The system also includes notifications to the conveyancer to reduce requisitions such as warning them that names on mortgages don’t match the register, as well as using the gov.uk Verify service.

enact say the reaction to the system has been “overwhelmingly positive”.

enact’s Managing Director, Ben Carroll said: “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.”

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

James Rippin, product manager for Land Registry’s digital services directorate said: “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.

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