Nationwide announces initiative to ‘help speed up home-buying process’

Nationwide Building Society has said it will allow mortgage deeds to be signed electronically, without the need for a witness, as part of moves to help speed up and remove some of the inconvenience from the home-buying process.

The change means that people who are purchasing a property or looking to remortgage with Nationwide can sign their mortgage deed electronically, if their solicitor or conveyancer is set up to use qualified electronic signature (QES) technology.

Nationwide’s initiative applies only to homes in England and Wales.

A mortgage deed is a legal document tying a person’s mortgage to their property and has traditionally required a physical signature on paper.

But Nationwide will now allow QES – a secure type of electronic signature that has been identity-verified – to be used, following the Land Registry’s decision last year to start accepting this as part of the mortgage application process.

Nationwide said the move was made possible through collaboration with the Land Registry, Your Conveyancer and technology provider Veyco.

Henry Jordan, Nationwide’s group director of mortgages, said: “Nationwide is committed to speeding up the home-buying process and reducing the stress and inconvenience that can come with buying a home.”

Andy Roddy, deputy director – digital services at the Land Registry, said: “We look forward to seeing others follow Nationwide’s lead, helping to make property transactions simpler and safer for everyone.”

Martin Bourke, managing director of Your Conveyancer, said the initiative “demonstrates what can be achieved when the industry works together to modernise the home-buying and remortgage process.

He added: “The innovation removes one of the last remaining paper-based steps in the transaction, helping clients and customers complete their remortgage or purchase transaction utilising a fully digital journey.”

Edd Prosser-Jones, Veyco’s partnerships director, said: “Making the home-buying process faster, smoother and more secure is now a tangible reality.”

Nicholas Mendes, mortgage technical manager at John Charcol, said: “This is a genuinely significant step for the mortgage market. The mortgage deed has been one of the last stubbornly paper-based parts of the process, so allowing it to be signed digitally removes real friction rather than just polishing the edges.

“For borrowers, it should mean fewer delays at a critical point and less reliance on printing, posting and witnessing documents at short notice. It also adds more certainty at exchange, with fewer moving parts at a point where transactions are most vulnerable to delay.

“For lenders and conveyancers, removing the need to physically handle and return deeds should cut out last-minute hold-ups that often sit outside the buyer’s control.

“Crucially, this is not just about speed. The identity checks and audit trail behind qualified electronic signatures strengthens protection around one of the most important documents in the process.”

Mr Mendes added that “the real benefit will come as more firms follow and this becomes the default, not the exception”.

Mary-Lou Press, president of NAEA (National Association of Estate Agents) Propertymark said: “The conveyancing process remains one of the most common sources of frustration for buyers and sellers, with more than 30% of housing transactions taking over 17 weeks to complete on average.

“These prolonged timescales only serve to increase pressure and uncertainty during what is already one of the most stressful financial commitments people will make in their lifetime.

“It is therefore welcome news that technological improvements will allow mortgage deeds to be signed digitally, helping to remove unnecessary delays from the process.

“Embracing digital solutions has the potential not only to speed up transactions but also to improve accuracy, reduce administrative burdens, and give buyers and sellers greater confidence as they move through the system.

“As the home-buying process continues to modernise, it is vital that these innovations are adopted consistently across the mortgage and conveyancing sectors.

“Widespread take-up could play a significant role in reducing transaction times, improving consumer experience, and helping to create a more efficient and resilient housing market overall.”