So what is a Land Registry Fee? What is SDLT? ... Conveyancing fees are often a mystery to most residential property clients and are sometimes misunderstood. Lets clear up some unknown terms, conveyancing industry acronyms and some other charges you may see on a conveyancing quote.
Land Registry Fees
HM Land Registry is a UK government agency responsible for recording the ownership of land and property in England and Wales. Every time a property is purchased or remortgaged, Land Registry must be consulted. They hold detailed plans of every property in England and Wales, as well as previous registrants, charges against the property or land and more. Any Land Registry fees will be collected by your solicitor or licensed conveyancer as a disbursement and will be paid to the Land Registry on your behalf. As of October 2012, the following Land Registry Fees apply:
Property Purchase Fees
| Purchase Amount (£) | Land Registry Fee (£) |
|---|---|
| £0 - £50,000 | £40.00 |
| £50,001 - £80,000 | £70.00 |
| £80,001 - £100,000 | £120.00 |
| £100,001 - £200,000 | £190.00 |
| £200,001 - £500,000 | £270.00 |
| £500,001 - £1,000,000 | £540.00 |
| £1,000,001 + | £910.00 |
Property Remortgage Fees
| Remortgage Amount (£) | Land Registry Fee (£) |
|---|---|
| £0 - £100,000 | £50.00 |
| £100,001 - £200,000 | £70.00 |
| £200,001 - £500,000 | £90.00 |
| £500,001 - £1,000,000 | £130.00 |
| £1,000,001 + | £260.00 |