This approach is currently applicable to properties located in England and Wales

Nationwide Building Society has announced a significant step towards streamlining the home-buying process, confirming that mortgage deeds can now be signed electronically without the traditional requirement for a witness.

This change means people purchasing a property or remortgaging with Nationwide can utilise qualified electronic signature (QES) technology, provided their solicitor or conveyancer is equipped to do so.

This modern approach is currently applicable to properties located in England and Wales.

Traditionally, a mortgage deed, the crucial legal document linking a person’s mortgage to their property, has necessitated a physical signature on paper.

However, Nationwide will now accept QES – a secure, identity-verified form of electronic signature – following the Land Registry’s decision last year to integrate this into the mortgage application procedure.

The building society highlighted that this progressive move was made possible through a collaborative effort involving the Land Registry, Your Conveyancer, and technology provider Veyco, aiming to reduce inconvenience and accelerate transactions.

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.