New code ''embraced by landlords'' ? commercial mortgages

17 December 2007

Four in five commercial property professionals approve of the Code for leasing business premises England and Wales 2007, it has been revealed.

Writing for Citywire, Nick Cook from Haywards has cited research from Lockton showing that the code has been approved by the vast majority of the commercial sector.

Any landlords with commercial mortgages who do not abide by the code may "have something to hide", Mr Cook added.

"Lease disputes between tenants and landlords are a costly and time-consuming business. Many of the grievances tend to emerge from simple misunderstandings," Mr Cook noted.

"It was in this light – and under the shadow of greater government regulation – that the Code for leasing business premises England and Wales 2007 has been published," he added.

Firms with commercial mortgages received a boost earlier this month when interest rates were cut to 5.5 per cent – the first such drop for more than two years.