When you’re looking to buy a house, you’ll probably already understand that you may well face several fees that you need to add on to the actual cost itself of purchasing the property. Well, one of these fees that can catch you out is the land registry fee.
The amount you have to pay can vary from house to house and to ensure you don’t end up with any nasty fiscal surprises, as leading online estate agents and property experts, House Network have put together this useful guide to point you in the right direction.
Here, we examine just what the Land Registry fee is for, what you get for your money, where you can find a Land Registry fees calculator and much more. Read on to find out everything you need to know.
What is a Land Registry Fee?
As you might have guessed from the name the Land Registry fee is simply that, the fee you end up paying for the Land Registry to update the records they have concerning your property – this is also often through your solicitor. Her Majesty’s Land Registry is classed as a non-ministerial department within the UK government, it reports to the Department for Business, Innovation and Skills.
What do you get for it?
You pay the Land Registry to register you as the new owner of the property you purchase. They transfer the entry they have in their records from the previous names to yours once the sale has been completed.
What Issues can it Raise?
The main issue that can be raised here is that the cost can vary dependent on how much the property you’re purchasing is worth. While the overall cost you may pay is on the most part much lower than many of the fees you have to pay in the house buying process, without the right information you can be caught off-guard by the total.
Where can you find a Land Registry Calculator?
So, as aforementioned, as we are a leading online estate agent, we want to help you with your buying exploits, so follow this helpful link to this Land Registry fee calculator. This Land Registry price calculator is really easy to use and with a few clicks can give you an idea of how much the fees will be on the property you’re purchasing.
The chances are you will find that the more your property costs, the more you’ll end up paying, according to the Land Registry calculator. The houses and flats with a higher-end value can see a Land Registry fee of up to £500 in some cases.
With all this in mind then, you should be clued up on everything from what these fees are to where you can find a Land Registry fee calculator – so you don’t find yourself having to pay more than you thought.
Also, remember that with House Network, a leading online estate agents, you only pay a one-off fixed fee for us to sell your property, which means you won’t be caught out by other hidden payments and added costs.
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