Property transactions to speed up with switch to computer-based system

The process of buying and selling property could become much faster, with the electronic transfer of data to replace the current paperwork-based model.

Conveyancing is the transfer of the legal title of a house or other property from one person to another, ensuing that the seller has a right to sell and there is nothing impeding a mortgage.

At the moment, it is done using a years' old paperwork-based system, but it is hoped e-conveyancing could be brought in by 2017.

Director general of the Law Society Ken Murphy said: "The relevant information by the relevant people involved in the transaction, through their solicitors, will be communicated electronically through a central hub, and the transfer of ownership and money and the movement of the title to the new owner will all take place instantaneously," he said.