Property "log-books" planned to help when selling

Posted: 7/11/2020

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Digital property logbooks have been proposed for every home in the UK. The aim is that every residential property transaction will be supported by one whether sales or lettings, with a trial scheduled for March or April 2021.

The joint giovernment-industry group behind the plan believes property logbooks lie at the heart of making house buying and renting quicker by removing many of the friction points that trip up transactions.

The proposed digital logbooks will also transfer from owner to owner in the same way Title Deeds do, and be accessible regardless which supplier created it.

The key information to be included will include:

  • Unique Property Reference Number
  • Title number
  • History of transactions including sales and rentals
  • A lettings MOT certificate (if relevant)
  • Ground rent info (if leasehold)
  • Up-to-date search and other local authority information.
  • Land Registry information
  • Utility company data.
  • Government information such as flooding risk.
  • Handover packs.
  • Building or retrofit works completed.

If it helps smooth sales and lettings then it seems to be a good idea.

At Key One Property we make things very smooth for our landords by offering a fully comprensive lettings and management service, and our fees are around the best value you will find in Belfast. 

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