Lease extension solicitor fees can vary from job to job, and will depend on a range of factors, including the solicitor in question, as well as the complexity of the lease extension being worked through. There are some average figures that you can go by as a sort of framework, however, and that’s exactly what we’ll be delving into in today’s blog post.
How Much are Lease Extension Solicitor Fees?
Generally speaking, lease extension solicitor fees will set you back in the region of £850 (excluding VAT). It’s worth noting that this is an average figure so some solicitors may charge less, whilst some may be more expensive. If you’re able to use a solicitor outside of London and the UK’s other major cities, then you’ll likely get a cheaper rate than were you to use one from one of those cities.
What Will a Lease Extension Solicitor Do?
During the lease extension process, solicitors will carry out a range of services. These include:
- Arranging valuations;
- Serving notices;
- Negotiating premiums;
- Compiling the appropriate paperwork, and;
- Applying to HM Land Registry once everything has been prepared and completed.
As you can see, it’s a complex and multi-faceted process, so choosing a solicitor with lots of experience is a must.
How Long Do Lease Extension Solicitors Take From Start to Finish?
The answer to this varies from solicitor to solicitor, as well as the nature of the extension. As a rule of thumb, though, lease extensions can take from as little as 2 months up to a year, and sometimes even longer. Though that is rare, it must be said. The sooner you can get a solicitor on board to help you with your proposed lease extension, the quicker the whole process will take overall.
Lease extension solicitor fees aren’t a one-size-fits-all thing, with prices depending on solicitor location, solicitor quality and the lease extension itself. But with a high-quality Lease Advisory like Kirkby Diamond at your side, you can rest assured that the extension process will be as smooth and seamless as possible.
If you’d like to get in touch with us to discuss a proposed lease extension, then we’d love to hear from you. Give our Milton Keynes office a call today on 01908 678 800, or fill out one of our online contact forms here.