Lease Assignment Costs

[cathdance]

Hi
How much will it cost for an assignment for a lease? I need to pay their solicitor costs. The shop will have 6 years left on in March and is £14000 pa plus VAT

Also do you think the solicitors would accept part payments or payment in full?

How long does this normally take?

Many thanks in advance.

Cath

 

[Christiane]

I'm negotiating for a lease at the moment (not assignment) and the fees quoted by solicitors were between £500 to £1,000 depending on the work to be done. They charge around £170 per hour, yes, you read that right, per hour!
I'm going to call the FSB to see whether they can give me some advice to avoid going down the expensive route of solicitors. I'm also talking to Business Link tomorrow.

I challenged paying the landlord's solicitors fees and they withdrew them. I challenged other things and they agreed to them. They will try and get as much as they can from you if you let them. They wanted me to sign a full repairing lease, I said ''no, internal repairs only'' and they agreed! I was gobsmacked at what I could have signed for, had I not negotiated better terms so far.

Make sure you have a break clause and rent review clause, they are both not mentioned on my lease and will ask them to add them.