Finding a solicitor

ceewash

I need to find a solicitor to read over a new lease on my business premises. I also need some advice on this: whether to sign a new 5 year lease, break clauses, whether to see out old lease with 2 years remaining or I have also be given the option to buy.

How much does a solicitor charge for a) advice b) reading lease?
How to I go about finding a reputable one?

Wywth

Solicitors charge anywhere between £100 and £500 an hour (perhaps even more) but expect to pay about £200 per hour (perhaps a bit more in the major cities)

Best way to find one is by personal recommendation from someone you trust.

Any solicitor should be happy to explain their ccharges to you free of charge before they start.

InsideInsurance

Also check the basis of charge, ie is it per minute or per part half hour etc. Some of the cheaper hourly rate solicitors use a more rounded up method of billing so the bottom line ends up about the same.

paddyrg

You need to ask at reception if they have someone who specialises in commercial property leases - not all solicitors will be equal. Some that mostly do family law (divorces, kids) will be out of their depth when looking at lease terms, for instance

Brassedoff

InsideInsurance wrote: »

Also check the basis of charge, ie is it per minute or per part half hour etc. Some of the cheaper hourly rate solicitors use a more rounded up method of billing so the bottom line ends up about the same.

Huh? The standard is 6 minute billing per law society rules after the first 15 minutes.

On leases, 6 minutes billing or fixed rate

In our practice that is the rate. I do a few leases, but on people per hour.

paulwf

A solicitor can check a lease to see if the wording is legal, a good solicitor can also check to see if there are any unusual clauses and highlight anything that is important and generally translate it from legal jargon into plain English.

That doesn't help you at all to determine what to do with your current lease, the length of the new lease and any break clauses. First stop is probably your accountant so you can check your profit levels and weigh up how long you want to be committed to the property for i.e. how large is the risk of failure where you would want to close the business and get out? If you're confident the business is trading well then it might be worth speaking to a commercial property agent to negotiate on your behalf, a local one will help as they know the market.

Generally speaking the longer the lease is for and the less break clauses there are the lower you can get the rent as the landlord will get a greater return over the length of the lease.

ceewash

Thanks for these replies. Not sure how to find a decent solicitor. I am in the FSB. would they help?

Brassedoff

ceewash wrote: »

Thanks for these replies. Not sure how to find a decent solicitor. I am in the FSB. would they help?

Phone the Law Society, they have a directory you can search online, or via the phone they will give you a large, medium and small choice of practices. I would say expect to pa around £500 for two visits, plus the lease sorting. Anymore and the costs will start rising.