Liverpool Ready to launch Local Land Charges Register
The city of Liverpool, 2008’s capital of culture, is ready to be one of the first cities in England and Wales to embrace the Local Land Charges (LLC) register, a digitised service provided by HM Land Registry.
The LLC system will allow solicitors across England and Wales to instantly access vital data used to carry out land and property searches that traditionally took up to 40 days to receive when they were processed through local authority systems.
Hopefully, the system will save a multitude of days wasted waiting for information using the old system; inevitably saving time and money for seller, buyer, conveyancers, local authorities and estate agents.
Graham Farrant, Chief Executive and Chief Land Registrar, said: “Buying a house is the biggest financial investment of people’s lives. By centralising and digitising the local land charges information of local authorities in England we are helping to improve conveyancing. Search results from the new register will be instantly available in a standard, easy-to-read format. This is another significant step forward in the Government’s ambition to make the home-buying process simpler, faster and cheaper.”
As Liverpool’s property market continues to soar with properties in the city set to be valued over £1 billion, it is predicted that the LLC register will boost the speed of the home buying process and further improve the Liverpool housing market.
Andrew Lloyd, Managing Director of Search Acumen, comments: “With the launch of the Local Land Charges (LLC) digital register, Liverpool’s property market is set to enter a new age of efficiency. The newly digitised data will provide solicitors with instant access to data needed to carry out due diligence for homebuyers and sellers, which they could have previously waited weeks to receive. This will save buyers and sellers weeks of administrative angst and will also reduce the risk of transactions falling through.
“Liverpool’s property market has already boomed in recent years, nearing an annual valuation of £1 billion in 2017, a 124% growth in just five years. As the city becomes one of the first regions to benefit from a streamlined property transaction process, the housing market could be set to attract even further investment.
“As HM Land Registry rolls out the digitised service across England and Wales, homebuyers, sellers, estate agents and solicitors will be set to save millions of unnecessary days spent waiting for vital information to finalise property sales and purchases. We truly believe this revolution will transform the process of buying and selling property in the UK.”
In a time where instant information is a standard expectation, increasing LLC data should be a welcome inclusion and improvement to the home buying process.
Are conveyancers excited for a holistic system offering instant results? Will this improve the completion process without putting additional pressure on conveyancers? Or, will systems like this create an unrealistic time expectation and additional strain on conveyancers and their workload?