Why are so many property investors frustrated with their solicitors?
After 18 months of active participation in the property community, senior partner Tim Bishop finally concluded that there was a relatively simple reason why so many investors seemed so unhappy with their legal representation.
In short, too many solicitors simply don’t understand the property community.
- Firstly, the majority of transactions for investors involve residential property – and they are carried out by residential conveyancers. Although the vast majority of those conveyancing lawyers, are more than capable of handling routine conveyancing, they are used to dealing with people buying their own home. Those clients buying a home to live in are driven mainly by emotion and although they may say they are in a hurry, normally, as part of the chain, they will not be particularly inconvenienced by any delay in the whole conveyancing process.In contrast, property investors are not driven by emotion – they are business people and driven by cash. Speed is therefore absolutely critical.
- Secondly, although many of the transactions are primarily residential in nature, they may be associated with other more specialist property strategies – lease options, delayed completion, rent to rent etc. Your standard residential conveyancer is likely to have little, if any, knowledge of these aspects of the property world.
And that’s why you property investors need specialist solicitors.
However, if you are one of those lucky investors who already has a great solicitor, our advice is simple – stick with them.
Why we are different
- Firstly we have set up a specialist team to act for property investors nationwide – led by Louise Campbell, a solicitor with excellent experience of both residential and commercial conveyancing, and who knows how important it is to understand client’s business needs as well as their legal needs.
2. Secondly training in this area is critical – so we have taken great care in making sure that all of our team actually understand not just the legal, but also the practical and commercial aspects of many of the transactions they’ll be asked to assist with by property investors.
3. Thirdly, we continually reassess our processes to make sure they are as simple, fast and responsive as possible. So, for example, we are making the most of electronic signatures wherever possible to speed things up.
4.Lastly, Bonallack and Bishop is owned by Tim Bishop, who no longer runs a legal caseload himself. While he is responsible for the firm’s strategy, leadership and business development, more importantly, Tim has been an active member of the property community since 2014, is a founder member of both PPN in Bournemouth and Southampton and is a regular face at PPN courses.
And, in addition, Tim is an active property developer in his own right – specialising in commercial to residential conversion.
Tim set up the property investor team and remains very closely involved with it – adding crucial up-to-date practical input.
How we can help you
Our expert team can provide specialist advice on a full range of property related issues for investors including;
- Buying and selling residential and commercial property
- Buying property at auction
- Creation of new leases
- Incorporating your business properly – setting up your company
- Joint venture agreements
- Landlord and tenant law
- Lease extension and freehold purchase of residential flats and houses
- Lease options
- Loan agreements
- Preparation of Leases and Tenancy Agreements
- Property disputes
- Re mortgages
- Shareholder agreements
- Specialist advice and documentation on a range of common property strategies ranging from HMOs and Rent to Rent, to Serviced Accommodation and Flipping
- Specialist tax advice
- Title splitting
Head of Property Investor Team
Commercial & Residential Conveyancing
01722 424481 email@example.com
“Just a quick note to say “Thanks for a Job Well Done”.
You acted for my firm as a Lender recently and I wanted to say that Louise & team did a fantastic job. Great communication and our expectations exceeded.
Look forward to working with you on the next project.”
Rory O’Mara – Managing Director
Closed Bridging Finance Ltd
Residential Lease Specialist, Enfranchisement & Commercial Property
01722 424439 firstname.lastname@example.org
Company & Commercial Law. Joint Ventures, Shareholder Agreements & Contracts
07970 679382 email@example.com
Litigation. Property Disputes & Landlord and Tenant Law
01722 424432 firstname.lastname@example.org
Accountant. In-house Property Tax Expert
07967 735603 email@example.com