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Thomas
Thomas, Lawyer
Category: UK Property Law
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Experience:  BA (Hons), PgDip, Practising Solicitor
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Do I need to have a solicitor to register a 10 year commercial

Resolved Question:

Do I need to have a solicitor to register a 10 year commercial lease or can I do it myself? and how do I go about it?? I am the landlord. My tenant is reluctant to make any contribution to my legal costs for engaging a solicitor. The cheapest quote I have received so far is £780 (inc VAT). Can I get it done any cheaper as my tenant does not want to contribute??
Submitted: 1 year ago.
Category: UK Property Law
Expert:  Thomas replied 1 year ago.
Hi,

Has the lease been completed or are you still negotiating it and the tenant does not yet have occupation?

Is there a mortgage on the property?
Tom
Customer: replied 1 year ago.

the tenant is already in occupation. her lease expired last year in the summer. i have already negotiated a new 10 year lease but she is reluctant to contribute to my costs.

Expert:  Thomas replied 1 year ago.
Hi,

Is there a mortgage on the property?

Tom
Customer: replied 1 year ago.
Yes there is a commercial loan with Natwest
Customer: replied 1 year ago.

Yes a commercial mortgage with Natwest

Expert:  Thomas replied 1 year ago.
Hi,

You should really instruct a solicitor simply because they draft/check the lease to ensure that you are adequately protected, if you do not instruct a solicitor then you risk giving the tenants rights that they should not have or making it very very difficult for you to regain possession of the property in the event that something goes wrong.

You would also need to obtain written consent to the lease from the lender before you complete it, otherwise you would be in breach of your mortgage conditions

You can register the lease yourself by sending Land Registry form AP with the lease to the land registry but you would also need to send the HMRC Stamp Duty return form with it, together with the LR fee of - usually - £50. The tenant must submit this to HMRC upon completion and obtain the stamp duty return.

Basically, yes you can do the lease and register it yourself but is highly, highly inadvisable.



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Kind regards,


Tom
Customer: replied 1 year ago.

Is the legal fee of £780 (inc VAT) reasonable or can I get it done cheaper through another firm that you know of??


 


Is there a norm by law or precedent as to how much of it the tenant should contribute??


 


Many thanks

Expert:  Thomas replied 1 year ago.
Hi,

That would be around the cheapest, yes.

There is no law governing this, it's a matter for negotiation. Most of the time each party pays their own costs but sometimes the landlord can negotiate for the tenant to pay the landlord's costs.

Please remember to rate my answer.

Tom
Thomas, Lawyer
Category: UK Property Law
Satisfied Customers: 6445
Experience: BA (Hons), PgDip, Practising Solicitor
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