Firms are reminded to be ready for the new Land Registry fees that come into place on the 22nd October.
Following efficiency savings they have been able to reduce fees by an average of 10 per cent.
They are lowering scale and fixed fees for applications relating to every statutory service.
To prepare for the new fee order, customers are encouraged to familiarise themselves with the new fees and make any necessary changes to processes and systems to ensure they pay the correct fees.
The reduced fees will apply to:
- Information services — reduced by £1
- Scale fees — reduced by £10
- Register alteration — a fixed fee of £40
As a result, the fee for a purchase of an average-priced property (£161,777 – June 2012 House Price Index), including information and registration fees, will fall from £218 to £204.
The Land Registry fees calculator will be adjusted accordingly prior to the 22nd October.
