Land Registry of England and Wales to reduce its fees
01-08-2012
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‘Reducing our fees enables us to pass on savings we have made as a result of a major restructuring programme to reduce costs across the organisation. We are lowering scale and fixed fees for applications relating to every statutory service,’ a spokesman said.
To prepare for the new fee order it is encouraging users to familiarise themselves with the new fees and make any necessary changes to their processes and systems to ensure they pay the correct fees with applications.
Fees for information services will be reduced by £1, scale fees will be reduced by £10, an alteration to the register will have a fixed fee of £40.
The organisation said that as a result the fee for the purchase of an average priced property which was £161,777 in June 2012, including information and registration fees, will fall from £218 to £204.
It is part of its Accelerated Transformation Programme, adopted in the wake of the property market slump of 2008. ‘It aims to ensure the Land Registry becomes a smaller, leaner, flexible, customer focused and sustainable organisation that is needed to deliver our objectives in a changing market,’ explained the spokesman.
‘The resulting efficiency savings are being passed on to customers in the form of lower fees,’ he added.
