Skipton Building Society is expanding its involvement in a digital property network designed to reduce delays and improve communication during property transactions. This move builds on an existing partnership between Connells Group and conveyancing technology provider LMS, bringing together expertise from across Skipton Group.
The National Property Transaction Network (NPTN), developed by LMS, aims to streamline how organisations share information during property sales. It seeks to collect key property, identity, and financial information once, allowing relevant parties secure access throughout the transaction.
The network connects estate agents, mortgage brokers, lenders, and conveyancers to improve communication and reduce duplicated work. Instead of repeatedly requesting the same documents, participating organisations can share information securely. Skipton previously participated in the NPTN Sandbox and will now explore how earlier information sharing could improve mortgage decisions and property transactions.
Si Farrell-Roberts, head of lending at Skipton Building Society, stated that making important property information available earlier and securely shared could mean less duplication, fewer delays, and greater clarity for buyers and sellers. Chris Rosindale, chief operating officer at Connells Group, added that the partnership aligns with the government's Home Buying and Selling Reform Roadmap, which encourages greater use of digital technology.
Skipton, Connells, and LMS will explore how earlier information sharing could improve the sales process. However, the companies have not confirmed a timetable for wider implementation or provided figures on potential time savings.