Latest News

Money Laundering registration now open for letting agencies

26 May 2020

Registration for UK letting agencies is now open with Her Majesty’s Revenue & Customs (HMRC) who are the supervisory body for the property sector. Read More...

Furlough Scheme must flex to support recovery

26 May 2020

NAEA Propertymark continues to talk to Government departments about the needs of the sector, the disparity between activities allowed in England, compared with Scotland, Wales, and Northern Ireland and the cautious progress of recovery and consumer confidence. Read More...

SSP reimbursement now available

26 May 2020

The Government has announced that employers in England can claim Statutory Sick Pay (SSP) Reimbursement from today, Tuesday 26 May 2020 which form part of their financial support to businesses during the COVID-19 pandemic. Read More...

Scottish Government releases phased route map

22 May 2020

A five-phase route map was released on 21 May, with a brief mention in Phase One about the safe reopening of the housing market. Read More...

Land Registry makes changes to help keep the market moving

Wednesday 06 May 2020

With the aim of keeping the property market healthy and efficient, The Land Registry is enabling searches and urgent applications to proceed during lockdown, coupled with Propertymark’s call to Governments to back our Property Sector Support Package both organisations have a focus to #keepthemarketmoving.

More than half the nation’s wealth is in properties, over £7 trillion in England and Wales, and according to The Land Registry, they estimate £1-1.5 trillion of debt is currently secured on property assets. Estate agents play a vital role in the property market, mitigating any economic issues on the horizon.

The new normal

As many organisations migrated their whole business to a ‘new normal’ of home working and overcoming the difficulties, The Land Registry has had their fair share but worked to adjust and build its capacity, ensuring urgent transactions were still accommodated. Non-urgent transactions are now being processed with their capacity to be able to deal with issues set to be ramped up. 

Quote mark

From what we see – judging by comments from our customers, incoming applications, and the number of expedite requests received – many people still want to and, most importantly, still need to deal with their property. That may be to obtain vital finance to support themselves or their businesses. 

Mike Harlow, HM Land Registry

Communicating

As with all businesses, open communications with customers has been paramount. The Land Registry has achieved this by setting up a cross-section of stakeholders in a discussion forum. It has been used to test ideas for practicality with further details being shared in due course.

Reviewing processes

The Land Registry is also looking to pivot from paper to digital systems, with working practices undergoing change to make signing and identity checks easier to complete. This is part of not just as a short-term sprint, but trying to be the most efficient and effective they can be to spur the recovery on and continue to work openly and rapidly with the industry to ensure they can make most of the opportunities at this stage.

KEEP THE MARKET MOVING

Propertymark has called for Governments to back a Property Sector Support Package and encourages agents to add their voice to the campaign. Our webpage has full details of our briefing to Government, how to write to your MPs, MSPs or AMs, and a social media pack to help agents share details of our campaign to #keepthemarketmoving.

 

Property Sector Support Package