Registering with land registry fee confusion

Fisa002

My brother is selling his house to another family member as part of a concessionary house Purchase. The house valuation has come in at 210k. Family member is purchasing at 25k with the rest as gifted equity.
Does anyone know what the correct fee would be as to registering title with the land registry? As he has had two quotes from different solicitors on the fees. One has quoted £20 to register, the other as £130.
I presume one has used 210k value the other at 25k. Which is correct ? Much appreciated.

Fisa002

Just wondering if anyone had an answer to this please? Thnx

Tom99

I think its £20 as there is monetary consideration

https://www.gov.uk/guidance/hm-land-registry-registration-services-fees#transfers-of-registered-estates-not-for-monetary-consideration

Fisa002

Thankyou tom.
The 25k will be mortgaged. I!!!8217;m guessing looking at that link that falls within scale 2. It!!!8217;s very confusing. I guess the solicitor is probably wrong in this instance ?

G_M

Unless there's a mortgage, why use a solicitor?

Tom99

Fisa002 wrote: »

Thankyou tom.
The 25k will be mortgaged. Im guessing looking at that link that falls within scale 2. Its very confusing. I guess the solicitor is probably wrong in this instance ?

You could message the Land Reg for an answer:-

https://help.landregistry.gov.uk/app/contactus_general/?utm_medium=newsletter&utm_source=govuk&utm_campaign=death_contact_page_to_contact_form&utm_content=web_page

agrinnall

G_M wrote: »

Unless there's a mortgage, why use a solicitor?

From the post above yours - although the extraneous characters do make the affected posts more difficult to comprehend .

Fisa002 wrote: »

The 25k will be mortgaged.

Flat_Eric

Hi both fees are correct although (although £135 not £130). The fee payable will depend on the circumstances which your solicitor might not know at the outset. Various factors will affect the fee payable.

Fisa002

Flat_Eric wrote: »

Hi both fees are correct although (although £135 not £130). The fee payable will depend on the circumstances which your solicitor might not know at the outset. Various factors will affect the fee payable.

How can both be correct in this instance? Both solicitors had the same information.

I tried to contact them on that link but didnt have a reply. You think I should get a quote from another solicitor ?

G_M

The fees are listed here:

https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

My guess is that both solicitors have basd their quotes on using the portal rather than post.

The 1st one has correctly quoed £20 for a transaction between £0 - £80K.

The 2nd one has misunderstood, and based it on a transaction between £200K - £500K (I assume you mentioned the £210K valuation in your discussion?). He has then quoted £130 (instead of £135, as Flat Eric says above).

However, I think it's all immaterial. When the solicitor (whichever you use) gets to the point in the conveyancing where registraton takes place, he will review it all and pay the appropriate fee, which will then be passed on to you in the final Completiion Statement.

In choosing which solicitor to use, if price is your main comparison, I would ignore this and focus not on the disbursements (this is one such) - as these 3rd party costs will be the same whoever does the conveyancing - but on the solicitors' own charges.

You may, of course, consider the 2nd solicitor less attractive as he's been less accurate in his disbursement quote which may suggest a less attentive service.

Flat_Eric

Both figures are correct that you have been quoted, its just that the solicitors have interpreted your requirements differently which will be because they have spoken to you and are therefore better placed to know how to achieve what you want to achieve given your individual circumstances and that of your brother.