From 31 January 2022, some of HM Land Registry’s land registration fees are increasing for the first time since 2009.
HMLR advise that the fee increase is to ensure that HM Land Registry’s costs, including investment in recruitment and new services, are covered by its fee income. They advise there is no increase in information service fees at all and it will provide around a 10% increase to HMLR income under normal market conditions.
This will affect applications for first registration and for the registration of transfers, leases and mortgages of property (Scales 1 and 2).
For the majority of affected applications – those submitted electronically – the fee has increased by 11%. Those submitted by post will increase by 21%.
In addition, there are some minor changes to fees and exemptions.
Please see the link below for more information:
The Conveyancing Association Policy and Strategy Board (PSB) has been reviewing the opportunities to improve the home moving process and, due to the impact of the dematerialisation of deeds in the Land Registration Act 2002, consider that many issues could be resolved by the provision of information upfront.
At a PSB workshop in October, members of the PSB reviewed the provision of upfront information and the work being undertaken by the Home Buying and Selling Upfront Information Group.
Attached is the outcome of the workshop and the CA policy on upfront information, to support the delivery of certainty and transparency to the consumer and their lender and, as a result, to improve the home moving process and working practices for the conveyancer.
We will be hearing from the Home Buying and Selling Group and the Department of Levelling Up Housing and Communities at the CA conference on 2nd December so wanted you, as a member of the CA, to have the opportunity to ask any questions about Upfront Information whether using the SLIDO function at the event, or if you cannot attend, ahead of the event for us to raise points on your behalf.
Once you have reviewed the document, please respond to this email with any questions you have or any other ideas on how the home moving process could be improved.
Frequently Asked Questions
- How many searches go out of date?: 9/10 searches would be in date currently if ordered at listing
- How many mortgage offers require a search direct from the local authority?: 1/10 mortgage offers
Most of the CA search affiliates will refresh out of date searches or provide Council searches where a lender will not accept a regulated personal search
- Will this reduce the number of properties going on the market? No, not based on consumer feedback.
The HBSG survey undertaken by the CA indicated that:-
- 98% of consumers want upfront information, of which 96% owned a property so would be the ones having to pay if they wanted to sell
- 72% think the seller should pay for it (96% had brought property so would be sellers – only 5% thought that the buyer should pay for it)
- 61% of people would pay over £300 for the upfront information
- Can a buyer’s conveyancer accept a search provided by a third party? Yes, regulators have indicated that conveyancing lawyers acting for the buyer can accept in date searches ordered by a third party as part of their due diligence process.
We look forward to seeing the questions and ideas which you have.