Land Registry buyer emerges, reports say

George Osborne may have found a buyer willing to pay upwards of £1bn for the privatisation of the Land Registry, according to reports.

Private equity group Advent International has emerged from the pack of rival buyout firms as most likely to front a bid for the house deeds and titles agency, Sky News reported.

Osborne said in his November autumn statement that the Department for Business, Innovation and Skills (BIS) was examining ways of moving the Land Registry to the private sector from 2017.

The government tried to sell off the Land Registry in 2014 before shelving the plans after a revolt by civil servant unions and the Law Society.

One option suggested to allay concerns about a total privatisation could be a halfway house solution where a joint venture company would be created and partly owned by private sector investors.

The Chancellor could reveal more details about the developing plans in his Budget on Wednesday.