| Increase in Land Registry Charges |
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16 June 2009 By Susan Poole, Partner, Commercial Property The Land Registry have advised that all applications received by them on or after 6th July 2009 will be subject to new fee scales. Whilst the timing of completion of a transaction is not always entirely within the your control, if you have an unregistered property and are considering making a voluntary application for first registration, you may wish to give thought to submitting your application before the new charges apply. The practicalities of achieving this will depend very much on the complexity of the title concerned; however, getting a completed application to the Land Registry before 6th July could result in a substantial saving.
By way of example, an application to register a property valued between £200,000 and £500,000 currently attracts a charge of £220 (voluntary application cost would be £165). From 6th July the costs will increase to £280 and £210 respectively. If the value of the property concerned falls between £500,001 - £1,000,000 the new charge would be £550 as opposed to the current charge of £420 and voluntary application for a property valued at the same level would be increased to £410 as opposed to the current charge of £315.
For full details of the new registry charges visit Land Registry Fees.
Contact our team for more information.
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