Search Acumen comments on the launch of the central, digital Local Land Charges register

Search Acumen comments on the launch of the central, digital Local Land Charges register

Search Acumen is excited to get down to work and begin to utilise HM Land Registry’s (HMLR) newly opened, central digital Local Land Charges (LLC) register. It is early days, but we think the ability to immediately execute LLC searches will completely transform UK property transactions. 

According to HMLR, decentralised LLC searches ranged from a few pounds to nearly £100, depending on the local authority. And, because the process is often manual, turnaround time can fluctuate from one business day to more than 40 days. With around 979,000 transactions registered over the last four quarters across England and Wales, that’s anywhere between 979,000 working days of waiting time at best, or more than 39 million at worst.

It’s therefore no surprise that LLC searches have too often been the fly in the ointment for both residential and commercial property transactions. Property professionals have been at the mercy of a fragmented process that can result in a sub-optimal service for their clients.  The launch of the central digital register today is a big step towards getting as close to the best-case scenario as possible, and even going one better through digital technology.

Improved data access, standardised fees and faster turnaround times mean solicitors and conveyancers will save millions of days a year in unnecessary waiting times – and property buyers will save millions of pounds in unnecessary costs. 

We are strong proponents of the digitisation and the centralisation of the country’s property big data. Being able to offer a ubiquitous and boundless resource for conveyancers and property lawyers will allow for the legal aspects of building, buying and selling property to become a seamless process from end to end.

Andrew Lloyd, Managing Director of Search Acumen

This article was submitted to be published by Search Acumen as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.

Search Acumen

http://www.search-acumen.co.uk/

 

 

 

 

 

 

Next Generation Data

Whether your property transaction is big or small, commercial or residential; you can rely on us for accurate property data.

We collaborate with forward-thinking law firms who have an appetite to use authentic data in consultation with their clients. Our relentless focus on the next generation of property law, means all our customers already benefit from our easy access instant data, saving them critical time and resource.

What we do

We provide more than 40 layers of essential property data, digitally and on-demand through our intuitive ForeSite Platform. Our advanced system allows our customers to analyse real estate sites before the purchasing process has even started.

Early warning indicators create a highly efficient consultation process between our customers and their clients, significantly improving the purchasing experience.

What makes us different?

Our customers choose us and stay with us because we’re different. They like being part of our community because our vision for the market allows us to deliver future proofed innovations which is good for their business.

Here’s some examples from the past twelve months that have helped us receive recognition as thought leaders in the property data space:

  • Data Snapshot - An instantly available property report that Conveyancers and Commercial Real Estate Lawyers can use to mitigate risk from the outset of their due diligence.
  • AI & Machine Learning - We’ve developed our own Machine Learning tool using Amazon based AI which is specifically designed for the property data industry.
  • Blockchain - We continue to work with industry leaders in the Blockchain Technology space to create positive change and we were the sole property data provider in the UK’s first Blockchain property trial (2019).

Contact: Sam Jordan
Tel: 01622 478843 (ext 4460)
Email: [email protected]

Address
The Maidstone Studios,
New Cut Road,
Vinters Park,
Maidstone,
Kent
ME14 5NZ

Leave a Reply

Your email address will not be published.

X