The Land Registry's delayed electronic conveyancing service for house buyers in England and Wales is set to be piloted in 2007 as part of a £21m deal signed with IBM. The e-conveyancing service will eventually replace the current paper-based system with electronic documents and signatures that will make it quicker and cheaper to exchange documents and transfer funds when buying and selling properties.
The project was initially planned as a 'big bang' approach that would be piloted in 2005 but after consultation with stakeholders the Land Registry opted to introduce the electronic service in stages. The pilot of the full service was then retargeted for 2006 but that has now slipped to 2007.
Lodgement and discharge services have already gone electronic.
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