£250–£450
Searches per transaction
Charged per transaction, not per property. Expire after six months. Cannot be transferred to a new buyer. The same data, bought again and again.
Building the data network behind a trustworthy property market
The same search was charged to that street 23 times.
Local authority, drainage, environmental searches — identical data, identical street, sold to every buyer fresh. Not because the data changed. Because nobody built the infrastructure to share it. We did.
£1.5B
lost every year in failed property transactions — direct costs and economic impact. Santander, 2025.
Nearly 1 in 4
agreed sales fall through — 530,000 failed transactions every year in England and Wales. Santander, 2025.
£14.1B
projected net social value from smart property data by 2043 — Department for Business and Trade, March 2025.
180+ days
average from listing to completion — the UK is the slowest major housing market in the world. iamsold / TwentyEA, 2025.
£1 → £10
for every £1 invested in smart property data, nearly £10 in economic benefit. The highest return of any sector studied. Department for Business and Trade, 2025.
Sources: Santander, Fixing the Broken Chain (September 2025) Department for Business and Trade, Understanding the costs and benefits of smart data use cases (March 2025) iamsold / TwentyEA, 2025
Why the system fails buyers and professionals
“Searches belong to transactions, not properties. When a sale falls through, they cannot be transferred. When a chain takes longer than six months, they expire. So every new buyer, every restarted transaction, every delayed chain pays again — for data that already existed. That is the system. We are replacing it.”
60–70%
Of conveyancing time
Spent chasing documents and running searches that already exist. The same information recreated and charged — transaction after transaction, year after year.
25%
Of sales fall through
Almost always over information that was knowable before the sale began — and fixable in days if found early. Found at week ten instead, it collapses the chain.
Zero
Incentive to fix it
Solicitors charge the same fixed fee whether completion takes six weeks or six months. Search providers charge per transaction — so every fall-through is another invoice. Nobody in the chain loses money when it goes wrong. Except the buyer and seller. Until now.
How OpenProperty works
The professional's world after OpenProperty
A verified property record that travels with the home — built before the sale begins, available to every professional who needs it, without the document chase that currently consumes months of every transaction.
The conveyancer who starts from a clean file.
A complete, verified property record at the point of instruction. Planning permission confirmed. Building regs confirmed. Certificates verified. The 60–70% of time currently spent chasing documents that already exist — gone. The caseload that was impossible becomes manageable.
The estate agent who arrives knowing more than the vendor.
A verified record of the property before the valuation appointment. What exists, what is missing, what needs resolving before listing. That conversation wins instructions. The agent who brings that is not competing on fee — they are competing on a different level entirely.
The lender who prices on what the home actually is.
Verified home condition data at the point of application. Not a postcode estimate. Not a self-reported form. Actual certificates, confirmed against the authority that issued them. Faster decisions. Better risk pricing. A new product category for the lenders who move first.
The Property Passport is what homeowners experience. Behind it is the infrastructure that connects that record to every professional who needs it — the conveyancer at instruction, the lender at application, the agent at valuation. One verified record. Every party. From day one.
47 Meadow Lane
Birmingham B15 2TT · Semi-detached · 4 bed
2yrs
21/22
3
Sale ready
Yes
Verified
- Gas Safe certificate Verified
- EICR (electrical) Verified
- Planning — extension Verified
- Local authority search Verified
Who OpenProperty is built for
Every professional in the chain. One trusted property record.
OpenProperty is designed to give every property professional a verified, complete picture of the home — before the transaction starts, not during it.
Estate agents
Offer vendors a verified Property Passport before listing. Properties with complete Passports sell faster, for more, with fewer transactions that fall through.
→ Be the agent who arrives with answers, not questions.
Conveyancers
Receive a complete verified Passport at instruction. No chasing documents. No rerunning searches. A clean file from day one — not assembled from scratch while the clock runs.
→ Start from a complete file. Not a blank one.
Mortgage lenders
Verified home condition data — boiler age, electrical certificate status, EPC rating, flood risk — available at the point of mortgage application. Risk pricing based on what the home actually is, not just where it is.
→ More accurate risk. Faster mortgage offers.
Surveyors
Begin every survey with verified baseline data. Confirmed boiler service records, certified electrics, known planning history. Less time establishing facts. More time providing the professional judgement clients pay for.
→ Richer surveys in less time.
Home insurers
The most granular verified home condition dataset ever assembled. Actual boiler age, EICR status, flood risk, structural history. Price accurately. Reward well-maintained homes. Reduce claims through better underwriting.
→ The dataset that transforms underwriting.
Our mission
OpenProperty exists to give every property professional the information they need, before the moment they need it.
The open banking parallel
Open Banking brought trust to finance. We bring it to property.
The structural parallel is exact. The government confirmed it. OpenProperty is to property data what Open Banking is to financial data.
| Element | Open Banking | OpenProperty |
|---|---|---|
| The standard | FCA mandated data sharing. OAuth2.0 consent. Banks open APIs to fintechs with customer permission. | OPDA Property Data Trust Framework. OpenProperty verified data layer. Homeowner-controlled consent — nobody accesses property data without permission. |
| The infrastructure | Raidiam, Yapily, Token — the pipes connecting banks to fintechs securely. | OpenProperty — the verified data infrastructure connecting property professionals to the information they need, with homeowner consent built in. |
| The consumer app | Monzo, Emma, Cleo — the products that made Open Banking visible and useful to consumers. | umovingu.io — the consumer product built on the OpenProperty network. A verified Property Passport for every home. |
| Data ownership | Bank customer owns their data. Banks must share it on their request. | Homeowner owns their property data. They grant access via the network with full consent controls and revocation. |
| Economic scale | £1.4B annual economic value to UK consumers from Open Banking. | £14.1B projected net social value by 2043. £2.06B annual GDP contribution. UK government research, March 2025. |
Where this is going.
Every professional in the property chain currently starts each transaction from scratch — chasing the same documents, ordering the same searches, asking the same questions that were answered six months ago on the same street. We are building the infrastructure that ends that. A verified property record that exists before the transaction begins, that travels with the property not the deal, and that every professional can rely on from day one. That is the direction. We are building toward it.
Talk to us about the networkThe real cost
The cost of a broken system
Every pound of this is avoidable. Every delay is preventable. Every collapsed sale is fixable. This is the problem OpenProperty exists to solve.
£400–500M
Failed transactions
30–35% of agreed sales fall through. Buyers lose £1,000–£3,000 per collapsed deal.
Survey fees · Conveyancing fees · Mortgage arrangement · Searches
£1–1.5B
Wasted professional time
Every failed transaction wastes time across the entire chain. Productivity lost that no one recovers.
Estate agents · Conveyancers · Mortgage brokers · Surveyors
£4–5B
Delayed housing mobility
Slow transactions affect the whole economy. People delay major life decisions because the process is broken.
Delayed moves · Employment friction · Family disruption
£1–1.5B
Duplicate data and admin
The same information recreated every transaction. Property forms, searches, legal enquiries — charged again each time.
Searches · Legal enquiries · Document requests
~£1B
Chain collapse costs
One failure triggers multiple collapsed transactions. Relisting, remarketing, new surveys, new legal work.
Relisting · New searches · New surveys
Total annual economic cost
£1.5B+
in direct and economic costs from failed transactions alone — and that is before wasted professional time, delayed mobility and duplicate admin. Santander, 2025.
The infrastructure the market has been waiting for.
Whether you are an estate agent, conveyancer, lender or property professional — the property data standard is coming. The professionals who engage with the infrastructure now will be ahead when it does.
OpenProperty is the infrastructure. umovingu.io is the consumer product built on it.
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