A Land Registry sell-off could drive overseas investors away if it threatens the security of UK property titles, the British Property Federation has warned.
The industry has joined a public backlash against chancellor George Osborne’s strategy to raise £5bn from privatisations.
In its response to the government’s consultation, which closed on Thursday, the BPF said that security of title underpinned billions of pounds of lending to commercial property, which could be threatened by a sell-off.
Chief executive Melanie Leech said the proposals were being rushed through without measures to maintain quality.
Richard Close, head of lease advisory at Daniel Watney, said that a sell-off of the Land Registry would create an “immediate market monopoly”.
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