The row over proposals to privatise the Land Registry took another turn last week, after the Law Society suggested that it would not be easy for the Government to press ahead with its proposals.
The society is one of a number of professional bodies to voice its opposition to ministers’ plans.
In a formal response to the Government’s consultation exercise, the body raised concerns that there were not sufficient safeguards to prevent the conflicts of interest and fraud which they fear may take hold if the operation is taken into private hands.
The Law Society has argued that without the necessary assurances about how these risks will be dealt with, the Registry – which was created in 1862 – should remain in public ownership.
Jonathan Smithers, the president of the Law Society, said: “Whatever the political and ideological debates around privatisation, the Land Registry is not a commercial operation which can be easily privatised.
“Placing the Land Registry in private hands presents unique challenges and risks, which would have to be addressed should any form of sale proceed.
“With so many problems, costs and risks to the public to be carefully managed, it’s pleasing to hear the Government say that they intend to listen to concerns raised during this consultation.”
Concerns set out in the formal response include an increased risk of money-laundering in the property market and the threat of fee increases at the expense of property buyers.