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First digital mortgage signed by borrower

The Negotiator

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Coventry Building Society and Enact Conveyancing have lodged the first digitally signed mortgage, into the Land Register, for a house in Rotherhithe, London.

Part of the ‘Sign your mortgage deed’ service, HM Land Registry is building for a future without the need for a witness to watch as the homeowner applies an ink signature to a paper mortgage deed, saving time and providing a more secure service to homeowners, lenders and conveyancers.

The registration forms part of HM Land Registry’s plans to transform the conveyancing market through quicker and simpler digital services and improved use of technology, making transactions instantaneous where possible and simplifying the homebuying process.

The registration of the deed follows months of collaboration and testing with Coventry Building Society and Enact Conveyancing and uses GOV.UK Verify to enable borrowers to securely verify their identity before digitally signing their mortgage deed online.

HM Land Registry Chief Executive and Chief Land Registrar Graham Farrant said: “

By working with partners in the industry, we have secured a simpler and faster service for the benefit of home owners.

“We are looking forward to rolling this out nationally and will be working with more conveyancers and lenders to do so.”
www.enact.co.uk

May 9, 2018

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