The 7,000th remortgage deed was signed and registered digitally at the start of February.
In October 2019, HM Land Registry (HMLR) announced the signing of the 1,000th digital remortgage.
However, since this time conveyancers and lenders alike are increasingly looking to embrace digital remortgaging options.
The speed and growth of the technology has prompted HMLR to anticipate the service surpassing 8,000 digitally signed remortgage deeds by the end of March.
Michelle Andrews, HSBC UK’s Head of Buying A Home, said:
“We are always looking at how we can improve the service we provide to our customers and using ‘digital deeds’ is another way we have been able to speed up the journey for existing customers who switch rates. We are extremely proud to have delivered 1 in 3 of all digital deeds signed and registered so far and look forward to providing many more during 2020.”
Nick Chadbourne, Chief Executive Officer of conveyancing solutions provider LMS, commented:
“The Land Registry’s digital application portal reaching 7,000 applications is a fantastic milestone, and we’re proud to be supporting them in this achievement.
“t’s an exciting time for the industry and there’s a great deal more to come. In particular, at LMS we are currently working to expand the case types who can reap the benefits of digital mortgage applications. We are looking to drive this innovation by linking more trusted lenders and lawyers with potential borrowers and continuously working to provide the most streamlined and secure service to customers as possible.”
What is your experience of using digitally remortgaging services?
