15 lenders have joined an industry-wide initiative led by LMS to improve the UK property transaction process.
The National Property Transaction Network (NPTN) is focused on digitising the home buying and selling journey.
The project brings together lenders, brokers, law firms, estate agents and technology providers to make transactions faster and more efficient.
At the centre of the initiative is horizontal digital integration, which allows all parties to work from a shared data system.
To support this, the NPTN Sandbox has been set up as a secure, non-live testing environment.
It operates in 6-week cycles, giving participants a chance to test digital solutions in a controlled way before they go live.
The aim is to make sure new technology works for everyone involved in a property transaction.
The first use case will launch this month, July 2025, focusing on digital ID verification and qualified electronic signatures.
The main goals are to allow a single, reusable digital ID for all parties, remove the need for physical witnesses by using qualified electronic signatures, and cut out postal delays.
Key measures of success will include acceptance of electronic deeds by law firms, lenders and HM Land Registry, as well as faster transaction times and better customer experience.
The first group of partners includes Verify365, which is helping to lead the work on digital verification, and OMS, which is testing broker workflows.
This is to make sure the solution works across the full transaction chain.
15 lenders are taking part in the Sandbox, with Gen H, HSBC UK Bank Plc, LiveMore, Lloyds Banking Group, Loughborough Building Society, Melton Building Society, Molo, NatWest Group, Newcastle Building Society, Skipton Building Society and TSB named among them.
The project aims to encourage better data sharing with other digital initiatives, support national rollout of successful solutions, and provide information to help shape policy.
NPTN’s approach is to use structured, reusable data for both ID checks and automated deed processes, with the aim of increasing trust and meeting regulatory standards.
Nick Chadbourne, CEO at LMS, said: “The NPTN Sandbox is a step forward in our mission to modernise the UK property market.
“By focusing our first innovation cycle on digital ID verification and Qualified Electronic Signatures, we’re addressing some of the most persistent friction points in the transaction process.
“A single, reusable ID and QES-enabled deeds can eliminate paper-based delays, reduce fraud risk, and significantly speed up completion times.”
Chadbourne added: “This isn’t just about digitisation, it’s about building trust, resilience, and interoperability across the sector.”
