Am I correct in assuming that the fact that my solicitor in Wells is not on my lender's conveyancing panel that there is a problem with the standard of his work?
That is more than likely a wrong assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Wells conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
I have given 8 weeks notice to my current landlord and must be out of my let out property in Wells by 8/5/2025. Conveyancing on my purchase is progressing. Can I complete in a couple of weeks as I wish to avoid having to move into temporary accommodation?
It is unwise to give notice for your lease unless your lawyer suggests that you should. Assuming that you have not previously done so, update to your lawyer and ask them to they chase the sellers side, try to get a realistic time scale from them that everyone will aim to achieve
A friend suggested that if I am buying in Wells I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Wells conveyancing searches. It is not a small document of about 40 pages, listing and detailing significant information about Wells around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Wells Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Wells Education with plans and statistics, Local Amenities and other useful data concerning Wells.
I have recentlyfound out that Arc property Solicitors have been shut down. They carried out my conveyancing in Wells for a purchase of a leasehold apartment 10 months ago. How can I check that my home is in my name in the name of the former proprietor?
The quickest method to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Wells conveyancing specialists.
I am looking to sell my home. My previous solicitors closed down. I would be grateful for any recommendation of a conveyancing firm. Im based in Wells if that makes things easier.
You should use our search tool to help you find a solicitor for your conveyancing in Wells. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.
I am attracted to a couple of apartments in Wells both have in the region of fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Wells is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of purchasers and banks, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Wells conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Wells Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing
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Does the lease have onerous restrictions? How much is the ground rent and service charge? The answer will be helpful as a) areas can cause problems in the block as the communal areas may begin to deteriorate where maintenance are not paid for b) if the leasehold owners have an issue with the managing agents you will need to have all the details