The Land Registration Fee Order 2013 came into force on 17 March, allowing us to share the benefit of efficiency savings with our customers.
The main changes were:
- the inclusion of scale 1 registrations of properties priced between £50,001 and £80,000 in the lowest price band (now £0-80,000), retaining the lower fee of £40
- the reduction of the fee for scale 1 registrations of properties priced between £80,001 and £100,000 from £120 to £80
- a reduction of 50 per cent in the fee for electronically lodged applications to register transfers of whole, charges of whole and transfers of charges and some fixed fee applications
- the introduction of a flat fee for all ‘inspection of documents’ and ‘official copy of document’ (OC2) applications, removing the differences in fees between documents referred to in the register, not referred to in the register and leases. The fee is £3 per document when applied for electronically and £7 per document when applied for on paper.
For full details, read our Land Registry fees guide.
Why have we reduced our fees?
As a trading fund we are required to set fees to break even. In 2012 our efficiency savings allowed us to reduce fees by 10 per cent on average.
With further efficiency improvements recorded and a rising number of transactions in the housing market, we were again in a position to share the benefit with our customers by reducing our fees.
We were also pleased to take the opportunity to encourage electronic applications and to simplify and substantially reduce some of our most commonly paid fees.