Concern has been raised over the possible privatisation of the Land Registry, with fears that it could further slow the homebuying process and add cost to both the public and property professionals, BestAdvice.net can reveal.
As the government looks to make deep cuts to departmental budgets and while talk of a ‘bonfire of the quangos’ is rife, plans are quietly being made to sell off the guardian of ‘title’ in England and Wales.
In a letter sent to customers, Marco Pierleoni, chief land registrar and chief executive of the Land Registry, said that a number of options for the organisation’s future were being investigated by the government.
He said that ministers have decided Land Registry should remain as a function, and have asked officials in the Ministry of Justice to undertake a feasibility study to scope out the opportunities presented by private sector investment.
He said: “The study will in particular consider whether the private sector should play a greater role in the delivery of Land Registry services