Glossary - Land Registry Fees

Land Registry Fees are fees paid to register property ownership.
The land registry keeps a record of properties and ownerships. This information is registered in a central register called the HM Land Registry.
To change the ownership of a property a fee must be paid to the Land Registry. Normally the borrower’s solicitor performs this act as part of their duties.

Example: Legal Fees and Mortgages
When buying a property the legal expenses may amount to 3% or 4% of the purchase price. So it would make sense to save up as much as possible towards the property puchase. Any money borowed would incur interest charges, solicitors, search fees ect all add to the cost of buying property.

Additional legal expenses that may be included are:

  • Solicitor or Conveyance
    To handle the legal matters, correspondence and to make sure that the name on the property deeds are transferred.
  • Land Registry Fees
    Changing the legal owner of the property.
  • Stamp Duty
    So the buyers rights as the legal owner of the property are recognised.
  • Mortgage Indemnity Guarantee Premium
    Payable if the mortgage is for more than 75% of the property's value. On UK mortgage loans over 95% of the properties value mortgage indemnity can be substantial.
  • Property Valuation & Survey Fees
    Must be carried out so the mortgage lender can ascertain the size of loan it is prepared to make for the property.
  • Home Buyers' Survey and Valuation Report
    Survey on the property and surrounding area, fee varies according to the size and value of the property.
  • Building Report
    A full structural survey and therefore the cost is likely to vary due to differing sizes of property.

Useful Tip
As this is probably the biggest investment that you will ever make remember to take any advice that is offered and always be sure that the property is right for you before signing any paperwork.

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