HM Land Registry have claimed that the days of mortgage deeds being confined to paper may be drawing to a close.
A fundamental part of their digital innovation, the registry have developed a new digital mortgage service which enables borrowers to sign their property deed online.
As well as working towards complete digitisation, the changes form part of the registry’s wider aim to become “the world’s leading land registry for speed, simplicity and an open approach to data,” which they outline in their blog.
Seen as a more secure option, signing deeds digitally mean that there is no longer a risk of documents being lost in the post. The registry also claims that digital signatures are likely to reduce application processing time, given that users can go back to their online account and sign whenever is convenient for them.