Land Registry Fees Reduced by 50%
From 17th March 2014 the Land Registry fees will be reduced by 50% for certain applications delivered by electronic means, these include: the fee payable by the purchaser on registering a transfer of the whole of a registered title; the fee on registration of a charge (or the transfer of a charge) of the whole of a registered title; and many fixed fee applications for dealings with the whole of a registered title.
This move to reduce fees for electronic submissions supports the Government’s ‘Digital by Default’ strategy. Whilst all purchasers will benefit from a reduction in the scale 1 fee for registrations of properties between £80,001 and £100,000 and a widening of the lowest scale 1 fee band, Ed Lester, Land Registry’s chief executive pointed out that their ‘research shows that many first time buyers purchasing properties in the £50 to £100,000 range […] will benefit from the lower fees’.
Details of all the changes due can be found within the Land Registry Fee Order 2013.