123-reg do not charge for domain transfers out. You can login to your control panel and change an IPS tag (UK domains) to another registrar for free of charge. The change is almost instant. No fax is required, no extra hurdles, plain and simple. Not all of our UK competitors can say that.
We did several years ago under alternative management make a change in this process, but since I took control that was reverted very quickly, after only a short period of time being active.