Search Acumen comments on Digitisation of Local Land Charges register for London Borough of Lambeth
Andrew Lloyd, Managing Director at Search Acumen comments on the Digitisation of the Local Land Charges register for the London Borough of Lambeth.
- Since 2015, there have been 19,954 property transactions in the London Borough of Lambeth valuing just over £13.5bn
- Of those, around 85% (16,872) were residential property transactions, totalling nearly £10bn. Lambeth has experienced 3,082 commercial real estate transactions since 2015, totalling £3.4bn
- In the first half of 2019, the number of property transactions in Lambeth fell by a quarter (24.5%) to 1,561 and fell in value by almost £92m to £1.28bn
Andrew Lloyd, Managing Director at Search Acumen, comments:
“It’s great to see yet another local authority able to make the switch to HM Land Registry’s (HMLR) newly opened, central digital Local Land Charges (LLC) register. Property professionals involved in buying and selling property in Lambeth will soon see how the ability to immediately execute LLC searches will significantly improve property transactions in the borough.
“A fragmented and largely manual process has been a headache for property professionals, not to mention their clients for years. This digital switchover is therefore a big step in the right direction and should be welcomed by commercial property lawyers and conveyancers who’ve been looking for solutions to speed up the transaction processes.
“And it’s not just speed: improvements like standardised fees and better access to data further contribute to solicitors and conveyancers’ efficiency – giving them upfront access to the information they need before a brick is laid.
“We at Search Acumen have long been a vocal supporter of the digitisation and centralisation of property big data, and we commend this next step by HMLR – being able to offer a credible and trusted resource to conveyancers and property lawyers at their fingertips will allow for the legal process of property building, buying and selling to become further streamlined.”
Kindly shared by Search Acumen