Forty-two organisations have recently pledged their support to the National Property Transaction Network (NPTN), an interoperable digital ecosystem developed by LMS to revolutionise the UK property transaction process. The network, which follows a successful pilot in late 2024, aims to create a seamless, connected environment for all stakeholders involved in property transactions, including conveyancers, lenders, agents, and technology providers.

The NPTN operates on a framework of secure, reusable data that facilitates the smooth exchange of information throughout the transaction lifecycle. Built on principles established by the Open Property Data Association and the Property Data Trust Framework, the platform ensures that the shared data is trustworthy and reliable. This system is designed around the concept of Horizontal Digital Integration (HDI), which connects multiple systems and stakeholders, reducing duplication, enhancing communication, and providing a holistic view of the property transaction.

During its initial pilot, which included prominent firms such as Connells Group, Peter Alan, TM Group, Moverly, and a select panel of law firms, the NPTN demonstrated significant efficiency gains. According to LMS, the trial achieved a 35% reduction in completion times from Sold Subject to Contract (SSTC) to exchange, alongside a 43% decrease in transaction fall-throughs. Additionally, the process from instruction to completion accelerated by 17%, while agent instruction rates with participating firms increased by 21%. These improvements were attributed to the introduction of Digital Sale-Ready listings, which incorporate upfront material information, reusable Know Your Customer (KYC) and Anti-Money Laundering (AML) checks, and smart data integration to boost transparency, trust, and overall confidence among buyers and sellers.

LMS’s Chief Executive Officer, Nick Chadbourne, highlighted the collaborative nature of the NPTN network: “The stakeholders adopting NPTN aren’t just participating – they’re proactively shaping the future of property transactions. Their early adoption has been critical in helping us prove what’s possible when smart data flows securely and seamlessly between platforms, without restrictions or silos. We’re incredibly grateful to every partner who has joined us at this stage. By working together with shared goals and transparent standards, we’re building an ecosystem that benefits everyone – faster processes, better data, and ultimately a simpler experience for the customer.”

The broadening network now includes multiple law firms such as Ackroyd Legal, Knights, Ronald Fletcher Baker LLP, and Signature Law, alongside technology providers like 4Corners Property, Collaborative Conveyancing, Mortgage Brain, Thirdfort, and Yoti. This expansion is supported by the launch of an NPTN sandbox environment in July 2025, which offers a risk-free space for firms to test and integrate digital solutions without needing live transactions. This sandbox operates in focused six-week innovation cycles, allowing thorough validation before deployment.

A significant milestone for the NPTN came with the announcement in July 2025 that 15 major lenders, including HSBC UK, Lloyds Banking Group, NatWest Group, and Skipton Building Society, had committed to participating in the network’s sandbox. This consortium aims to foster greater interoperability and innovation across the property sector, with the first sandbox use case focusing on digital ID verification and the utilisation of Qualified Electronic Signatures (QES). These technologies seek to eliminate the need for physical witnessing of documents, thereby reducing delays and enhancing the security of the conveyancing process.

The development of the NPTN addresses a longstanding gap in the property market, as LMS Commercial Director Travis Scholes explained in an earlier interview: “What’s missing is a place where all those different elements of digitisation can work best together and make the best use of that digital maturity that has taken place.” By decoupling the transaction network from LMS’s core applications, the NPTN offers an open-loop, agnostic platform adaptable to all stakeholders, further indicating a shift towards greater digital collaboration in the conveyancing space.

Additionally, the network’s momentum aligns with a wider industry commitment exemplified by LMS and 23 other signatories to the new Project28 charter. This initiative aspires to achieve ‘sale agreed to exchange’ timescales of 28 days by making eight key commitments to enhance efficiency, transparency, and trust in property transactions. Central to these goals is the increase in upfront data provision, the promotion of secure, interoperable data repositories, and the establishment of recognised best practices across the sector.

As the property market continues to digitise, the NPTN’s expansion and integration efforts highlight a transformative potential, promising faster transactions, fewer cancellations, and a more trustworthy experience for buyers, sellers, and all parties involved. The coordinated approach from numerous lenders, law firms, and technology providers through platforms like the NPTN sandbox points to an evolving ecosystem where interoperability and shared standards underpin the future of property conveyancing.

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Source: Noah Wire Services