Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
Open Data Milestone Achieved in UK Home Buying Process
Proptech firm Kotini has successfully demonstrated how open data can be accessed, verified, and securely shared throughout the home buying process. This achievement was made during a government-backed sandbox test, offering a new approach to handling property data in the UK.
The sandbox test showed that Kotini could securely access property data from HM Land Registry, verify its credentials, and share it with other companies while maintaining a clear record of its origin and integrity. Previously, each company needed to create a bespoke connection to use Land Registry data. Kotini’s new shared environment allows organisations to connect once and reuse that connection as others join, reducing duplication and administrative burden.
The Smart Property Data Trust Framework sandbox is a government-backed initiative funded by a £742,700 award from the Regulators’ Pioneer Fund. The 12-month project is delivered by the Council for Licensed Conveyancers (CLC) in partnership with the Open Property Data Association (OPDA), with support from Raidiam, data from HM Land Registry, and oversight from the Digital Property Market Steering Group (DPMSG).
Rather than exchanging documents or building one-off integrations, sandbox participants have been able to explore how property data can be reused securely between accredited parties under shared standards. The sandbox will continue through to later this year, including further testing and collaborative hackathons to define practical use cases and explore solutions.
This development is relevant for UK letting agents and inventory clerks, as it demonstrates a move towards more efficient and secure data sharing in the property sector, potentially streamlining processes and reducing administrative overheads.
Source: Mortgage Solutions