Defining the Service - Electronic Funds Transfer

One of the problems with the existing conveyancing system is that delays often occur in making payments or confirming that they have been made. EFT is intended to solve this problem. Briefly, Land Registry will act as the trusted intermediary of all parties in conveyancing chains. To facilitate this r�le, each participant in a conveyancing transaction will have an account with an Agent Bank, into which it will pre-deposit the net funding requirements to complete its transactions within the chain. Land Registry, via the central e-conveyancing service, will instruct the Agent Bank to make the necessary payments out.

This consultation has now closed and the consultation report is available:EFT Report on Response to Discussion Document (English)

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Consultation Documents

• (English) Defining the Service - EFT (358Kb)
  06 Jan 2006 16:19
• (Welsh) Defining the Service - EFT (1.1Mb)
  06 Jan 2006 16:20
• EFT Report on Response to Discussion Document (English) (587Kb)
  Report on Response to Discussion Document (English)
  06 Jan 2006 14:59
• EFT Report on Response to Discussion Document (Welsh) (657Kb)
  EFT Report on Response to Discussion Document (Welsh)
  06 Jan 2006 15:05