My mortgage company has recommended solicitors on their panel based in Wells but I would rather choose a conveyancing lawyer in Wells round the corner to me. Can you assist?

It is by no means the case that all Wells conveyancing practices are listed all lender’s conveyancing panel. Use our find an approved solicitor tool to choose a Wells conveyancing solicitor on the on the bank panel.

What does a local search inform me concerning the property my wife and I buying in Wells?

Wells conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search organisations such as Searchflow The local search plays an important part in most Wells conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your property. The search should provide information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.

Despite weeks of looking the Title Certificate and documents to our house can not be found. The conveyancers who dealt with the conveyancing in Wells 5 years ago no longer exist. Will I be able to sell the house?

Assuming you have a registered title the details of your ownership will be retained by HMLR with a Title Number. It is possible to perform a search at the Land Registry, find your house and order up to date copies of the property title for a small fee. Where the title is Leasehold then the Land Registry will usually retain a file duplicate of the Registered Lease and again, a copy can be retrieved for twenty pounds.

We're new to the buying process - had an offer accepted, but the selling agent advised that the owners will only proceed if we instruct their preferred solicitors as they need a ‘quick sale’. We would rather use a local conveyancer with experience of conveyancing in Wells

We suspect that the owner is not behind this ultimatum. If they desire ‘a quick sale', turning down a genuine purchaser is likely to cause more damage than good. Bypass the agents and go straight to the sellers and make the point that (a)you are genuine buyers (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you wish to move quickly (e)however you will continue to use your own,trusted Wells conveyancing solicitors - rather thanthose that will earn their estate agent a referral fee or meet his conveyancing figures set by HQ.

I am attracted to a two flats in Wells both have in the region of forty five years remaining on the lease term. should I be concerned?

There are no two ways about it. A leasehold flat in Wells is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the salability of the property. The majority of purchasers and banks, leases with under 75 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 premises 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 a property 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. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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.

I invested in buying a basement flat in Wells, conveyancing formalities finalised June 2006. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Wells with a long lease are worth £260,000. The average or mid-range amount of ground rent is £45 yearly. The lease ceases on 21st October 2099

With only 74 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.