This is a fee payable to the Land Registry to allow them to register your information if you buy a property or change mortgage lenders. HM Land Registry provides an up to date list of fees on its website, covering all common applications relating to their services.
The fees are divided into two areas – Scale 1 fees and Scale 2 fees. Scale 1 relates to the first registration of a new property, along with other registry requirements such as leases and surrenders. Scale 2 relates to transfers of estates or charges that have already been registered. It also covers various other applications such as transfers where money is not a consideration.
Fees are provided on a sliding scale in each case, with more expensive land or properties incurring a higher fee for registration or changes to details. If you voluntarily register a new property for the first time, there is a reduced charge for doing so. If you apply online using their portal, it is cheaper to do so in several circumstances (although not in all).
Some applications to the Land Registry do not incur a fee. A full and up to date list of these examples is given on their official site. You can also read through examples of various applications, so you can see where your own fits into the mix. All charges on the website relate to applications made within England and Wales. There are also various links to other information about the Land Registry and the services it provides for a fee.