The updated version has new and updated fields for the buyer and seller property information, or BASPI pack, changes to leasehold (LPE) forms, new data fields for search results and the addition of referencing which would allow users to map digital upfront data on to other formats like transaction forms.
HBSG said that the scheme would ensure the framework “remains current and relevant in a rapidly evolving digital landscape”.
The JavaScript Object Notation (JSON) schema has also been updated to offer an “industry-ready, standardised format for property data that ensures consistency and accuracy”.
JSON is a text format for sharing and sending data, and where key elements of an upfront information pack for customers and estate agents can be stored. It turns data, such as property attributes, into a set language and then shares them in a consistent structure.
For instance, it would take HM Land Registry title number, tell it what it means and should be in a certain format. The scheme also has a digital signature so it will say where the data comes from.
HBSG said the updated schema would make it easier for industry firms, software organisations and connectivity platforms to “collect and share data with confidence”.
The first version of the framework was brought out in December last year. It sets out “key requirements” for data providers, users and trust entities to allow secure and seamless property data sharing.
Siloed systems a challenge
HBSG said that the biggest challenges for the homemoving industry had been its “siloed systems and processes, closed platforms, and inability to share data in a trusted way” and that the lack of structured data and technology standards had stifled innovation and lead to poor customer experiences.
The framework is ready to use now and is being used on live transactions. It can be used by brokers and lenders to update their own systems and APIs so they can receive and share digital property data.
Buyers making offers on a property listed with digital property pack can make that data available to their broker, lender, value and conveyancer. HBSG said that all properties would have a digital property pack soon.
The framework is available on Github, which is a open source community for software engineers. It is commonly used by intermediary or lender’s development teams and if there is not an in-house system in place, brokers and lenders would need to ask their mortgage software provider to do the update.
HBSG said that the data was coming from the same places it had done previously but the framework sets standard on how each piece of data is described and present it in a consistent format so it can be shared more easily and everyone has the same version of the data.
Opening up the porpety industry
Maria Harris (pictured), chair of the Technology Group, said that the release of the updated framework and schema was only possible through the “amazing support and contributions from our volunteer group including Adoor, Coadjute, Moverly, Redbrick Solutions and TM Group”.
She continued: “We believe that these updates will help organisations navigate the complexities of open property data sharing and promote greater transparency and innovation in the property industry.”
Beth Rudolf, director of delivery at the Conveyancing Association, added: “As co-ordinators of the content of the LPE1 and BASPI, along with the sector representative bodies in the homemoving industry, we are delighted to see the Technology Working Group refine the schema to cover the datasets.
“This will enable the data to be digitally shared, reducing the duplication and wasted human time, especially when many sectors of the property market are seeking to deal with ongoing staff shortages.”
She continued: “Digitalised property data, and the identification of the provenance of that data, is vital to improving the homemoving process for the consumer but also for the estate agents, conveyancers, valuers and mortgage advisers engaged in it.”
Kieran Witt, Kotini CEO, continued: “A trust-based and open property ecosystem, like the Property Data Trust Framework is creating, is one of the ways property transactions will become more efficient and less stressful for the end consumer. Version two is yet another step forward, and we’re proud to be supporting this innovation and its continual development.”
“The HBSG and Technology Working Group encourages all organisations involved in property data collection, NTSELAT Material Information required on advertising a property, upfront information, property listings, estate agency, searches, or conveyancing to adopt these standards and help drive the industry forward.”
The framework and JSON scheme can be found for free here on https://github.com/Property-Data-Trust-Framework
More information can be found on LinkedIn or via homebuyingandsellinggroup@gmail.com
