Broker Conveyancing to take hit on Land Registry fee rise

Broker Conveyancing says it will not be passing on the imminent rise in HM Land Registry information services fees to brokers’ clients who take out either its Cashback or Fixed Price Remortgage product.

From Monday 9 December, HM Land Registry will be increasing its information services fees by £4.

Increases include the following:

Inspection of an individual register or plan (by electronic means) will increase from £3 to £7
Official copy of an individual register or plan (by electronic means) will increase from £3 to £7
Registration, cancellation or rectification of an entry per name (Agricultural, Credits Service or application) will increase from £1 to £5.

The £4 increase comes with the exception of Land Charges applications submitted on paper. These will be increasing by £6 for searches and £5 for official copies and inspections.

EXTRA COSTS

Broker Conveyancing said, on average, the HM Land Registry fee increases would add more than £15 of extra costs to each individual remortgage case, and it has therefore decided to absorb the increases across both its Cashback and Fixed-Price Remortgage product.

The firm said the move was designed to shield clients from rising costs. It also said it safeguards the individual conveyancing firms providing these services.

“We believe neither brokers nor their clients should face reduced referral fees or added costs”

Mark Tosetti, CEO of Broker Conveyancing, said: “These Land Registry fee increases may appear modest at first glance, but with hikes exceeding 100%, and some changes reaching up to 400%, the impact is far from insignificant. While HM Land Registry state this is due to rising running costs, they must be paid by someone.

“At Broker Conveyancing, we’ve decided to absorb these increases for our most popular remortgage products, including Cashback and Fixed-Price options. We believe neither brokers nor their clients should face reduced referral fees or added costs.

“This commitment ensures clients retain access to top-tier conveyancing services, while brokers maintain business continuity and protect their income streams, without compromising the remortgage experience.”