Landmark Information Group has launched LandmarkConnect – a series of digital hubs for each industry sector, designed to help connect the home-moving market.
The PropTech firm says that it has long been working to open up its data sharing systems and services to improve efficiencies across the home-moving process, with a view to speeding up transactions.
It takes 133 days on average to buy a home in England and Wales, with what Landmark sees as unnecessary duplication and inefficiency for the industry.
The series of open, accessible and standardised hubs from Landmark will allow the currently disconnected parts of the home-moving industry to connect to each other in near-real time. The hubs will allow property professionals to access trusted data, documents and progress information, passed seamlessly between all stakeholders, as and when they need it to support buyers and sellers.
LandmarkConnect will compliment Landmark’s Secure Panel Network, which is used by the mortgage industry to communicate millions of transaction messages a year between lenders and surveyors.
The latest release of this network, now built on the LandmarkConnect platform, supports rich document exchange between multiple parties. It has been through successful scale validation with major lenders since autumn 2022 and enters full service this summer. With ongoing updates throughout the year and beyond, the system will connect more data across more hubs for other industry stakeholders.
Landmark Information Group CEO, Simon Brown, said: “The UK’s home-moving process isn’t working well, with enormous duplication and inefficiencies leading to staggering delays for home-movers. This is both stressful and frustrating for homemovers, and enormously wasteful for property professionals. We want to create a more efficient and better-connected market, where everyone benefits from shared data and insights.
“Landmark Information Group has the largest property data set in the UK, spanning the entire property value chain, and so we believe we are best-positioned to deliver the scale of ambition needed to make the home-moving process as efficient as it can be. Although this will be a phased roll-out, we’re enormously excited for the revolution this could ultimately bring to the UK’s home-moving process.”
