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LAND REGISTRY ANNOUNCES IMPORTANT CHANGES

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HM Land Reqistry has announced two important changes affecting its ...
HM Land Reqistry has announced two important changes affecting its

organisation and the level of its fees.

First, the Land Registration (District Registries) Order 1997 (SI

1997/1534), which took effect on September 1, 1997, made the

following changes:

-- the existing Durham District Land Registry is renamed the Durham

(Southfield House) District Land Registry

-- a second District Land Registry has been created at each of the

Durham and Swansea locations

-- the new Durham Registry will be called the Durham (Boldon House)

District Land Registry. Formal responsibility for the registration of

titles in Cumbria and Surrey is now transferred to this new District

Land Registry

-- The new Registry at Swansea will be known as District Land Registry

for Wales/Cofrestrfa Tir Ddosbarthol Cymru. Formal responsibility

for the registration of titles to all counties and county boroughs in

Wales is transferred to this new District Land Registry for

Wales/Cofrestrfa Tir Ddosbarthol Cymru.

A Land Registry leaflet (PIL016) providing further information on

these changes is available free of charge from any district land

registry.

Second, the Land Registration Fees (No 2) Order 1997 (SI 1997/1710)

came into force with effect from October 1, 1997 and replaces the

Land Registration Fees Order 1997. It includes the following changes:

-- the principal fee scale (see new Scale 1 at Table 1 below) is

amended. It reduces fees for most transaction values and reduces the

number of fee bands from 17 to 9. Over a full year, it is estimated

that this will mean an overall reduction in fees averaging 10 per

cent

Table 1

Value or amount (£) Proposed fee (£)

0-40,000 40

40,001-60,000 70

60,001-80,000 100

80,001-100,000 150

100,001-200,000 200

200,001-500,000 300

500,001-1,000,000 500

1,000,001-5,000,000 800

5,000,001 and over 1,200

-- the fee for the delivery of official searches by the Land

Registry's Direct Access Service is reduced from£4 to£2

-- fees are reduced where the surrender of an existing lease is

all or part of the consideration for the grant to

the same proprietor of a new lease of substantially the same

premises on which a scale fee is paid. In such cases:

-- no fee is payable for the surrender

-- the value of the surrendered lease is discounted in assessing the premium for the purpose of calculating the fee for the grant of a new lease.

A Land Registry ready reference card (RRC12/97) and leaflet (PIL017), which provide further information, are available free of charge from any district land registry.

Commenting on these new and reduced fees, chief land registrar and chief executive Stuart Hill said:

'It is the registry's policy to continually improve the product

it provides to its customers, by investing in new and enhanced

services and reducing the level of its fees.

'The registry's ability to achieve these latest: fees reductions

is largely the result of increased business and further improvements in productivity resulting from the efforts of the land registry's staff, so enabling the registry to cope with increased workload and to pass on savings achieved.'

Notes

These two new Land Registration Orders may be purchased (price£2.80)

from The Stationery Office or through law stationers. Copies of the

Public information Leaflet: (Numbers PIL016 and 017) and the Fees

Ready Reckoner can be obtained free of charge from any district land

registry or from HM Registrar, Customer Information Centre, 32

Lincoln's, Inn Fields, London WC2A 3PH, telephone 0171 917 8888.

Further background information: HM Land Registry, established in

1862, is a Department of Government responsible to the Lord

Chancellor. The Chief Land Registrar and Chief Executive is Stuart

Hill. The Registry became an Executive Agency in 1990 a Trading Fund

in 1993. The principal aims of the Registry are:

-- to maintain and develop a stable and effective land registration

system in England and Wales, as a cornerstone for the creation and

free movement of interests in land

-- on behalf of the Crown, to guarantee title to registered estates and interests in land for the whole of England and Wales.

-- to provide ready access to up-to-date and guaranteed information,

so enabling confident dealings in property and security of title

-- to achieve progressively improving performance Targets set by the

Lord Chancellor, so that high quality services are delivered promptly

and at lower costs to users. The Land Registry makes no call on public funds and was rewarded its charter mark in 1995.

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