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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.
1. 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.
2. Secondly, although many of the transactions are primarily residential in nature, they may be associated with other more specialist property strategies – 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 property investors need specialist solicitors – whether you’re a developer, have an existing portfolio or you’re just a single buy to let landlord .
However, if you are one of those lucky investors who already has a great solicitor, our advice is simple – stick with them.
- Firstly we have set up a specialist team to act for property investors nationwide – led by Andrew Barker, a highly experienced property 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.
Our expertise is recognised by the fact that we are one of only three Progressive Approved Solicitors – solicitors formally approved by Britain’s biggest property training network, and the only Law Firm recommended by the Buy to Let Property Group.
We are also on the Approved Solicitor’s panel for the specialist property educators at TitleSplit.com
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, and is a regular face at property networking nationwide.
And, in addition, Tim is an active property developer in his own right, with a developing property portfolio – with experience of commercial to residential conversion, and the owner of both HMO and serviced accommodation, he is currently setting up a family SSAS pension in 2021 to invest in commercial property.
Tim set up the property investment team and remains very closely involved with it – adding crucial up-to-date practical input.
Building your property portfolio – How we can help you
Our expert team can provide specialist advice on a full range of property related issues for investors including;
• Building Disputes – click here to read more about disputes with builders
• Buying property at auction – click to read more about how our auction solicitors can help you
• Commercial Rent Arrears Recovery – click to read more about to deal with Commercial Tenants Not Paying Rent During the Pandemic
• Creation of new residential and commercial lease agreements
• Deeds of Trust for Joint Ventures
• Incorporating your business properly – setting up your company
•Japanese Knotweed – click to read more about Japanese Knotweed compensation claims
• Joint venture agreements – click to read more about our team can help you set off with the right joint-venture agreement in place
• Landlord and tenant law
• Loan agreements
• Non-Disclosure Agreements – click here to read more about NDAs
• Options (but please note we are not able to advise with regard to lease options – however contact Senior Partner, Tim Bishop for an introduction to a law firm that can help you with lease option agreements)
• Preparation of Leases and Tenancy Agreements
• Repossessions – click here to read more about repossessed property conveyancing
• Shareholder agreements – click to read more about how we can help you with your shareholder agreement
• Site acquisition
• Specialist tax advice
• Title splitting
Thinking of entering a joint venture?
One bit of essential advice –never skimp on due diligence on your new business partner. Double check you know who they really are.
Click here to download our free and exclusive joint venture due diligence checklist prepared exclusively by the property investor team here at Bonallack & Bishop for property investors
Head of Property Investor Team
Commercial & Residential Conveyancing
01425 651732 firstname.lastname@example.org
“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 the 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
Commercial & Residential Conveyancing
01425 651736 email@example.com
Company & Commercial Law. Joint Ventures, Shareholder Agreements & Contracts.
01425 652110 firstname.lastname@example.org
Accountant. In-house Property Tax Expert.
Steve has his own residential and commercial property portfolio
07967 735603 email@example.com