The National Association of Estate Agents and the Association of Residential Letting Agents have asked new housing minister Gavin Barwell to rethink government proposals to sell off the Land Registry.
Earlier this month a spokesman in the David Cameron-led government said any final decision on the controversial privatisation would await the new administration.
Some in the property industry, and many Conservative and Labour MPs, have suggested that the proposed privatisation may lead to a lack of transparency in transactions and could reduce the quality of information available from the Registry.
Now David Cox, managing director of ARLA, and Mark Hayward, managing director of the NAEA, have called for a rethink.
“The government’s decision to sell the Land Registry risks reversing its good work on transparency and we call on the new minister to work with the new Business, Energy and Industrial Strategy department to think again on this proposal” they say in a joint statement.
The organisations have congratulated Barwell on his new role.
“This is a crucial time for housing, with demand greatly outstripping supply and an urgent need to reshape Britain’s housing mix. We worked closely with the previous administration to increase transparency in the UK property and sector and remain very supportive of the need for a beneficial ownership register” the pair say.
“It is also essential that Gavin honours the commitment of his predecessor to bring forward a review of the need for mandatory Client Money Protection for letting agents, following the discretionary powers that were brought in as part of the Housing and Planning Act. Only this can provide the adequate level of protection for landlords and tenants alike.”
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Needs to stay Government owned,as in future could use information from Tax Returns and Land Registry to highlight tax evasion.
Sometimes seeking quick cash by selling assets has unforeseen effects,eg doing away with tax discs means that revenue has dropped,because some do not receive reminder,eg moved address,while gaining a little by those buying part way through month pay again for car currently taxed.
Shouldn't even be up for discussion. It's a ridiculous and short-sighted idea, purely there to make more money for already rich people. The Land Registry is doing just fine as it is, leave it well alone.
Leave well alone, after all the information is public information and the Government have control that's good, a private company will use it to their advantage only and increase their profits, once lost it is lost the government would never get control again such a sad idea
Please enlighten me what "reshape Britain's housing mix" mean. Is it just the supply or the types of properties being built.
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