The main change is that a 50% reduction will be given to applications to register conveyancing Transfers and Mortgages by electronic applications. To qualify for the reduced fee the transfer must be for the ‘whole of a registered title’ which covers the majority of house purchases and many commercial transactions.
In respect of the usual registration fees payable on applications for registration, which are based upon the value of the property, further changes in the scale fees payable for properties priced between £50,001 and £80,000 reduce from £70 to £40 and for properties priced between £80,001 and £100,000 reduce from £120 to £80. By submitting these applications electronically, clients will benefit from a further 50% discount on these new lower fees.
We already inspect documents or order official copies of documents electronically via the Land Registry Portal and are charged £3 per document as opposed to £7 per document when applied for on paper through the post.
We now submit applications to register conveyancing Transfers and Mortgages using the Land Registry’s Electronic Documentation Registration Service and the further saving on qualifying transactions is passed to our clients.
Contact our Property Department for more information on [email protected]