Proposed temporary reduction of Land Registry transfer fee payable on transfer of title
On 12th February, the Government announced plans to reduce the Land Registry transfer fees (usually payable by purchasers) from 3% to 1% in respect of a purchaser’s first transfer of title for a limited time. We are currently awaiting further details to be announced by the Government as to how these changes will be applied. Once we have further information, we will then be attempting to contact all eligible clients who are in a position to take title to inform them of the changes and to make the arrangements for the transfer of title.
Please note that we are currently experiencing a high volume of enquiries and have a number of files at the transfer stage so our response times may be slower than usual and we would ask you to bear with during this exceptionally busy time. Thank you for your patience and understanding.
We are aware that there are a number of purchasers who have recently taken title paid the Land Registry transfer fees at the higher rate of 3%. However, we understand from the Land Registry that the reductions will only be applicable to future transfers and there are currently no plans to refund the additional money paid by those purchasers.