HMLR set out five-year Business Strategy

HM Land Registry have today (29/11/17) launched their new five-year Business Strategy.

Setting out the steps they aim to take to become the world’s leading land registry for speed, simplicity and an open approach to data, the strategy focusses on their key objectives, outlining the direction they plan to take during the next five years.

Split into six sections, each part of the document sets out their intentions for a number of areas that they’re working on currently as well as plans for the near future.

The first section looks at improvements to registration, with the Registry stating that it aims to enhance both speed and user experience. It also outlines plans to introduce customer training and education programmes to increase the level of support for conveyancers. Building on the plans for greater digitisation, the Registry also stated that they aim to automate and digitise 95% of daily transactions by 2022.

Outlining plans to create a more comprehensive register, the second section also focuses on speeding up the home moving process, as well as making it less costly. By improving the quality of data in the register, HMLR state that it will become a useful tool, supporting innovative growth, as well as the property market on the whole.

Looking forward to how registration of land could work in a decade’s time, the third section draws on the Registry’s ‘Digital Street’ and their ongoing development of a pilot digital register. Whilst they state that it will be just for a small selection or properties initially, it will be able to be updated easily as well as fully machine-readable.

The fourth section of the strategy looks at enhancing the publication of data, with an aim to maximise its use for societal benefit as well as innovative purposes. The Registry also states that this will go towards supporting the government’s transparency agenda.

HMLR also stress that the organisation needs to be built on a strong foundation of skills if these plans are to progress effectively. Highlighting this, section five focuses on the reshaping of the organisation through skill development and investment.

The final part of the five-year strategy looks at the financial plan to support these targets, with the Registry stating that market fluctuations and cost efficiency have both been taken into account.

Commenting on the launch of the strategy and the ambition of the organisation was Graham Farrant. The Chief Executive and Chief Land Registrar stated: “We have a great heritage and history. Our new 5-year strategy comes as we mark our 155th anniversary and the registration of our 25 millionth title. It sets out how we will achieve our ambition to become the world’s leading land registry for speed, simplicity and an open approach to data and to achieve comprehensive registration by 2030.”

HMLR’s five-year Business Strategy can be accessed here.