The latest initiative from the Land Registry, the government department responsible for registering land in England and Wales, to encourage Residential Conveyancing practitioners to embrace their new online technology is to offer a 50% reduction in their fees for registering transfers, provided that the applications are submitted electronically.
The Land Registry records all dealings with land and property, such as sales and mortgages, so the fee reductions will be welcome news to all buyers. For example, the fee for registering the purchase of a property bought for £250,000 online drops from £270 to just £135.
Woodfines already submit most applications online, so we look forward to passing this saving onto clients from the start of the scheme, which launched on 17th March 2014.
For further information, please contact David Webster on 01234 270600 or email at email@example.com