A consultation has been launched into the available options for moving Land Registry operations into the private sector.
It is proposed that the Crown will retain ownership which would include setting fees before Parliament. The preferred approach is for privatisation of the Land Registry which would entail a contract between the government and a private operator. The core functions would be transferred out of the public sector but safeguards for Land Registry users and the government would be maintained.
In the consultation, the government claims that the sale of the Land Registry would allow it to ''pay down debt'' or enable other investment ''for the benefit of taxpayers''.
Business Secretary Sajid Javid added: ''Anyone who's bought a flat or a house knows that the Land Registry has an important role to play in property ownership. By proposing a model where government retains critical functions, including ownership of the register itself, we are delivering our promise to ensure the sale of public assets benefits the wider economy and all working people in the longer term.''
The consultation will run until the 26 May 2016.
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