In a recent news release, HM Land Registry said that if an application to register is urgent, you can use the fast-track service and your request will be processed within 10 working days. The fast-track service comes as a relief to many buyers and sellers. Some of them need the transaction to be completed in a short time to prevent risks.
The fast-track service is a simple and clear procedure. It does not involve any extra charges. It is available for residential as well as commercial properties.
Land Registry has put this service in place for situations in which a delay could put the property sale at risk or could cause other problems unrelated to land transaction.
When applying for the fast-track service, it is recommended that you give appropriate details of the transaction, where necessary, and provide evidence of the problems caused due to the delay. The details will make it easier for the Land Registry to determine whether the request for fast-track service can be approved.
The evidence can include
- A clear explanation of the problem caused due to the delay and why an urgent completion of registration would be necessary
- Or a copy of mortgage, purchase contract or sale showing the expiry date of the offer
Chief land registrar, Simon Hayes, said:
“HM Land Registry is committed to ensure no property sale is put at risk – we have always prioritised the delivery of services that enable property sales to be completed. Most of our searches are instant and most changes come at the end of the transaction. However, sometimes changes are needed urgently, and our fast-track service means that anyone who has a concern about delays can contact their solicitor or contact us directly so we can investigate and resolve any problems quickly for them.”
On average, the Land Registry receives 18,000 requests every day to update the register. Usually, the request comes when the transaction is about to end; for example, when the property is in the hands of the new owner or after the payment of stamp duty. Most of these requests are processed within a month.
Land Registry has emphasized that except on extremely rare occasions, a service delay does not affect property transaction. In some cases, however, the register needs to be updated before the sale or transaction can start to prevent any negative impact. Here, the fast-track service could become particularly helpful.
Even during the pandemic, the Land Registry has been quick in processing requests to update the register. More than half of the applications, whether it is about a change of name or about removing the mortgage, is being processed and completed in less than 4 weeks. Most applications are completed within 5 weeks while a few of them take up to 6 weeks
On the other hand, requisitions i.e., request of information may take longer to process, perhaps between seven weeks to 4 months.
If you need any further information or guidance with your application regardless of which stage it is in, please do not hesitate to get in touch with our experienced conveyancers.