The Land Registry will eventually be privatised, in a move which will give private firms a say in the granting of land rights, according to The Guardian, which quoted leaked minutes from a meeting of the Land Registry board members.

Former executives from the body, which registers the ownership of land and property in England and Wales, say that a sell-off ‘beggars belief’ because it will allow the private sector to adjudicate on what can be conflicting interests between sellers, buyers, lenders and neighbours.

Documents seen by the Guardian show that far from still considering public ownership of the 150-year-old body as a viable option - as ministers publicly claim - senior civil servants are deciding between a joint venture between the government and a private company, or letting a private company run it as a so-called ‘Govco’.

Michael Fallon, the business minister responsible, had stated that options would be put out for a public consultation before any decision was made - and this would include the option of retaining the Land Registry as an executive agency of government.

Minutes show that civil servants believe the government could raise £1.225bn from entering a deal with a joint venture company.