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Nicola-mod
Nicola-mod, Moderator
Category: Property Law
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My solicitor has granted a commercial lease on a shop we have.

Customer Question

My solicitor has granted a commercial lease on a shop we have. The property is subject to a bank loan. He asked for their permission a number of weeks ago, but the account manager left the bank and after a number of weeks have now said permission will only be given for the new lease if the tenant does not have the right to renew. We would have lost this tenant if we waited on the bank and issued the lease. We took six months deposit and a quarter in advance from a good tenant. Can the bank now refuse their permission and do we have to have it
Submitted: 2 years ago.
Category: Property Law
Expert:  LondonlawyerJ replied 2 years ago.
LondonlawyerJ :

Hello. I am a solicitor with 20 years experience. I will try to help you with this.

LondonlawyerJ :

This will depend on the details of your contract with the bank. Presumably you discussed that with your ssolicitor before he grated the lease. What was his advice in general terms.

JACUSTOMER-k14fkrse- : He said to complete and exchange the lease that the bank cannot withhold permission
LondonlawyerJ :

I think that sounds right. Are trhe bank claimin theyhave the right to do this? If so what do they say gives them this right?

JACUSTOMER-k14fkrse- : No. They sent me an email saying that the lease should not give the right to renew
JACUSTOMER-k14fkrse- : The email states the proposed lease is not contracted out of the securities of tenure provisions of the L and T act 1954and would provide the tenant with the statutory right to renew at renewal. This is not acceptable to the bank and the lease will need to be contracted out of the aforementioned provisions
LondonlawyerJ :

Can I be honest with you. You have a solicitor who is properly familiar with the contents of the lease and your agreement with the bank. These are both detailed documents He is also familiar with detailed chronology of granting the lease, including the bank's conduct. I am not sure that this service will be able to give you anything even remotely as useful as the advice fri]om your own solicitor.

JACUSTOMER-k14fkrse- : It is the Yorkshire bank who as you prolly know are being ruthless at the minute and I want to make sure of my position
LondonlawyerJ :

I don't think you will be able to make yourself sure here. It may be that one of my colleagues takes a different view so I will opt out of the question and see if anyone else takes it up.

JACUSTOMER-k14fkrse- : Can I have an answer
JACUSTOMER-k14fkrse- :

I was told this would be passed to a colleague. But have heard nothing.

JACUSTOMER-k14fkrse- :

how do i follow this up

Expert:  Nicola-mod replied 2 years ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola

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