UK - The majority of members of the Conveyancing Association (CA) have voted to oppose the government’s proposals to move the Land Registry to the private sector. A consultation launched by the Department for Business Innovation and Skills (BIS) in March puts forward its preferred model to privatise the Land Registry by way of a contract between government and a private operator.
All the core functions would be transferred out of the public sector, but with key safeguards for Land Registry customers and government being maintained, such as the continuation of the state-backed guarantee when a loss is incurred as a result of a mistake in the register. In its response to the consultation, the trade body for conveyancers said that privatisation would not be in the best interests of clients, the conveyancing profession or the Land Registry itself, based on a number of reasons including its experience of previous privatisations.
Mortgage Finance Gazette and UK Government Consultation document