Land Registry set to reduce their fees

From 17th March 2014, the Land Registry will be reducing the fees they charge and will also introduce discounts of up to 50% for applications that can be lodged electronically via their Electronic Documentation Registration Service.

The main changes are that a 50% reduction will be given for customers who submit transfers and charges of the whole applications electronically and reducing the fees payable for properties priced between £50,001 and £80,000 from £70 to £40 and for properties priced between £80,001 and £100,000 from £120 to £80. It will also cost less to inspect documents or order official copies of documents, with the fee being £3 per document when applied for electronically or £7 per document when applied for on paper through the post

In keeping with our Investors in Environment Green Accreditation, the majority of our Land Registry applications to register conveyancing Transfers and Mortgages are already being carried out using the Land Registry’s Electronic Documentation Registration Service. This reduces the amount of paper used, both by us and the Land Registry. The environmental impact is further lessened as the registration fee is paid by direct debit avoiding the necessity for cheques to be prepared, sent via the post and then cleared through the banking system.

From March, we look forward to passing the reduction in fees proposed by the Land Registry to our clients.

For more information about our conveyancing services please click here

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This article has been prepared for general interest and information purposes only; it does not constitute legal advice and should not be relied on as such. While all possible care has been taken in the preparation of this article, no responsibility for the accuracy and/or correctness of the information and commentary set out in the article, or for any consequences of relying on it, is assumed or accepted by the firm or the authors.