A search company called Big Property Data says it is working with 15 major institutions to provide automated property reports aimed at speeding up conveyancing. The organisations include the Land Registry, the National Land Information Service, the British Geological Survey and Ordnance Survey. BPD claims to have amassed over 150 different datasets, containing more than three hundred million points of information which are accessible in 60 seconds on average, dropping the resulting reports directly into a client's account or email inbox. Traditionally, such searches have taken a day or, often, several days to complete. "Until now, information about property has been stored electronically by different organisations across the UK. In some cases, it had to be compiled manually. None of the systems had the consistent ability to talk to each other," says a spokesperson. The service has been co-founded by former Apple employee Lorenzo Tejada-Orrell and Nick Miller, a solicitor and entrepreneur. "Today's online generation simply won't tolerate waiting weeks for something that can take a matter of seconds - they want their property transactions to be as straightforward as every other aspect of their lives, from shopping to socialising, and that's what BPD offers, while also reducing costs" says a spokesperson.
A software company is offering an automated system for creating property reports to speed up the conveyancing process. Big Property Data, based in Manchester, is using data from 15 major organisations including the British Geological Survey and Ordnance Survey, the Land Registry to run the service. Using a total of 150 datasets, the system will generate reports in an average of 60 seconds, instead of the day or more usually taken to compile the searches manually.