Chain Matrix has been launched in three areas of the country. The Land Registry has piloted the scheme to aid the buying and selling of homes.
Everyone will be able to see where the house buying process is at in the chain, it is hoped that the hold ups with waiting for different people will be removed. The pilot scheme is due to run for six months and any feedback will be used before it is launched to the rest of England and Wales.
Our view
The only issue we see with this is that there are still outside parties that are not part of the Land Registry system such as mortgage companies. Whether they have agreed a mortgage with your purchaser will be not known. However, if this system highlights what searches have been done and if there are delays in doing this somewhere in the chain then it has to help identity literally the weakest link in your chain.