Our mortgage company has suggested a law firm on their panel based in Wells but I would rather instruct a conveyancing lawyer in Wells or nearer to where I live. Can you help?
The minority of Wells conveyancing firms are listed all banks conveyancing panel. Please make use of our search tool to locate a Wells conveyancing solicitor on the on the mortgage company panel.
The deeds to my property are lost. The lawyers who handled the conveyancing in Wells 5 years ago are no longer around. What are my next steps?
These day there are copies made of almost everything, and your solicitor will know precisely where to look for all the relevant documentation so you can buy or sell your property without any difficulty. Where duplicates can’t be found, your lawyer can arrange cover in the form of insurance or indemnities against possible claims on the premises.
I am looking for a ground for flat up to £305k and identified one round the corner in Wells I like with a park and transport links in the vicinity, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Wells suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage that many years may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
I am selling my home. My previous lawyers closed down. I would be grateful for any recommendation of a conveyancing firm. Im based in Wells if that makes things easier.
Please 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 runs smoothly.
I am tempted by the attractive purchase price for a two maisonettes in Wells which have in the region of 50 years left on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Wells. The lease is a right to use the premises for a period of time. As a lease shortens the marketability of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field.
I purchased a studio flat in Wells, conveyancing having been completed in 2009. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Wells with a long lease are worth £190,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease runs out on 21st October 2087
With only 62 years left to run we estimate the premium for your lease extension to span between £17,100 and £19,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
Myself and my fiance have recently had an offer agreed on a property and had meeting on Wednesday with the Post Office for the mortgage. They warned me that when it comes to choosing a lawyer that unless they are on their approved panel of conveyancing practitioners then we will have to pay out an additional fee of £250+. This is because they would then have to select a solicitor to act on their behalf in addition to the one we appoint for ourselves and we assume responsibility for their costs. I have asked the Post Office to supply me with a list so I can request quotes only from their approved conveyancers but was told they dont have such a list to hand over. Is there a simple way of finding out who is on a lender panel?
You can enquire of the Post Office what their criteria for panel membership is for a solicitor.Thereafter ask the conveyancing practitioner of your choice whether they fit that criteria and have they acted on mortgages for the Post Office previously. If the answer to those is yes, then just double check with the Post Office. Another option is to utilise our search tool and we may be able to identify a property lawyer in Wells on the panel for the Post Office.