When you are purchasing or remortgaging your home or house in England and Wales, you will have to pay a fee to HM Land Registry. This fee is set according to the transaction value of your home purchase or remortgage.
So what are the new HM Land Registry Fees for 2014 and who will benefit?
It appears that fees will be reducing for people buying or remortgaging their home within the lower brackets. This will definitely help First Time Buyers and people using the government backed "Help to Buy" scheme. The new rates are as follows:
Land Registry Fees for Purchasing a Property
| Purchase Price (£) | Land Registry Fee (£) |
|---|---|
| 0 - 80,000 | 20.00 |
| 80,001 - 100,000 | 40.00 |
| 100,001 - 200,000 | 95.00 |
| 200,001 - 500,000 | 135.00 |
| 500,001 - 1,000,000 | 270.00 |
| 1,000,001 + | 455.00 |
Land Registry Fees for Remortgaging a Property
| Remortgage Value (£) | Land Registry Fee (£) |
|---|---|
| 0 - 100,000 | 20.00 |
| 100,001 - 200,000 | 30.00 |
| 200,001 - 500,000 | 40.00 |
| 500,001 - 1,000,000 | 60.00 |
| 1,000,001 + | 125.00 |
For an all inclusive fixed fee conveyancing quote that uses these new fees, please use our online conveyancing quote comparison tool. Here you can get an instant quote and instruct your chosen solicitor or conveyancer completely online.