Manchester Conveyancing Solicitors | Ford Banks Irwin Solicitors - The Property Lawyers in Manchester for Buying / Selling Leases and Business Premises
Please note: Not to be used or relied upon without legal advice. These notes are for illustration purposes ONLY
continued from page 8 . . .
Buying and Selling Leases
Bulk applications affecting one or more Land Registry Office
Calculation of fees for Large Scale applications
Example A
A transfer on sale comprises 54 unregistered and 36 registered Property units. This transfer gives rise to two separate applications, one on form FR1 for first registration of the unregistered Property and the other on form AP1 for registration of the transfer of the registered Property. Conveyancing Solicitors and Property Lawyers for the applicant will need to pay a separate fee for each application, based on the Property units affected by the application. The fee payable with the form FR1 will be at least £648 under article 6 and that payable with form AP1 will be at least £432. But Conveyancing Solicitors and Property Lawyers will also need to calculate both fees in the ordinary way under scale 1, based on the amount of the purchase price attribute to the unregistered and registered units respectively. If the scale 1 fee is greater than the article 6 fee then the sale 1 fee becomes payable.
Property units and type of application
First Registration of 54 Units (FR1)
Value (£) - £750 000
Fee Band
Scale 1 = £550 (or £410 if voluntary)
Article 6: 54 units at £12 per unit = £648
Fee payable is the highest fee of £648
Property units and type of application
Transfer of 36 registered Properties (AP1)
Value (£) - £5 000 000
Fee Band
Scale 1 = £920
Article 6: 36 units at £12 per unit = £432
Fee payable is the highest fee of £920
Total fee payable would be £648 + £920 = £1 568
Example B
A transfer on sale comprises 550 unregistered and 9 550 registered Property units. As in example A, this transfer gives rise to two separate applications, and Conveyancing Solicitors and Property Lawyers for the applicant will need to pay a separate fee for each application, based on the Property units affected by the application.
Property units and type of application
First Registration of 550 Units (FR1)
Value (£) - more than £1 000 000
Fee Band
Scale 1 = £920 (or £690 if voluntary)
Article 6: 500 units at £12 per unit and 50 units at £6 per unit = £6 300
Fee payable is the highest fee of £6 300
Property units and type of application
Transfer of 9 550 registered Properties (AP1)
Value (£) - more than £1 000 000
Fee Band
Scale 1 = £920
Article 6: 500 units at £12 per unit 9 050 at £6 = £60 300
Fee payable is the highest fee of £60 300
Total fee payable would be £6 300 + £66 300 = £66 600
Example C
A transfer on ale comprises 31 Property units, 17 being unregistered and 14 registered. This transfer also gives rise to two separate applications, one for first registration of the unregistered Property units and the other for registration of the transfer of the registered Property units. Conveyancing Solicitors and Property Lawyers will need to pay a separate fee for each application. But in this case article 6 does not apply because each application comprises less than 20 units. Conveyancing Solicitors and Property Lawyers will, therefore, calculate the two fees in the ordinary way under scale 1, based on the purchase price attributable to the unregistered and registered Property units respectively.
Example D
A transaction consists of 32 first registration and 16 registered Property units. The fees for the registered Property units are assessed separately from the fees for unregistered Property units. In this case, the first registration application may qualify for article 6 (32 Property units) but a scale fee will apply for the registered units (16 Property units).
(All italics in this page are Crown Copyright and reproduced here for your information with permission from HM Land Registry)
. . . continued on page 10 (Manchester Conveyancing Solicitors Property Lawyers for Buying and Selling Leases 10)
Please telephone Paul on 0161 866 8999 if you require any further information.
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M32 9HB
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