From 1 April 2016, the General Register of Sasines will close to standard securities. This provision was included in the Registers of Scotland (Voluntary Registration, Amendment of Fees, etc) Order 2015 and is intended to be a lever with which to complete the land register.
The closure of the sasine register to standard securities means that property owners still on the sasine register who wish to take on borrowing with a new lender will have to voluntarily register onto the land register for the transaction to go ahead. There will be no fee to customers from RoS for this voluntary registration, and the fee will remain the same to register the standard security at £60.
To provide for the closure of the sasine register to standard securities on 1 April 2016, new functionality has been added to our eforms. This functionality has been released in advance of the commencement date to allow eforms users to familiarise themselves with the application process.
Users submitting voluntary registrations via eforms will be prompted to confirm whether a standard security affecting the same extent accompanies the voluntary registration. This question is defaulted to "no" (see screen shot).
If the user selects "yes", the voluntary registration fee will default to zero, irrespective of the value of the property.
In order for the nil fee to be applied upon receipt of the application:
- the standard security must be over the same extent as the plot for which voluntary registration is sought
- the voluntary registration and standard security must be submitted together
- the application must be received on or after 1 April 2016
More information can be found on our land register completion guidance pages.
If you have any questions, please email email@example.com.