BISHOPSGATE LAW LTD
Bishopsgate Law is a modern law firm which provides legal services for personal and commercial clients nationally from their offices in London, Hertfordshire, and Northampton. Founded in 2016 by Martin Philips, Bishopsgate Law is an SRA-regulated firm with over 2300 5-star reviews on Trustpilot and an overall score of 4.9. They specialise in conveyancing and property Law, and they focus heavily on their client relationships. They are also a returning client with a perfect repayment history.
Old fashioned quality of service using modern technology
What makes us unique is our experience and our approach.
- We work hard to ensure we provide fast, efficient legal services at competitive costs.
- We have dedicated managers for client care, and for quality and compliance.
- Our first priority is and always will be our relationship directly with our clients.
- We are also environmentally friendly; having developed paperless workflows using our cloud-based, digital case management system.
Accredited by The Law Society, our aim is to provide an affordable, progressive legal service with a straightforward approach. We are committed to authenticity and transparency and no hidden fees. We provide a fast, efficient residential conveyancing service for property sale and purchase, including new builds, and remortgage. Fixed fee, no hidden extras, with a No Move No Fee Policy. Our conveyancing team acts for clients nationally for property transactions in England and Wales, and we operate a remote service where clients never have to visit our offices. We have continued to grow our business amidst the general market downturn, and are confidently continuing to do so.
The director Martin Philips is providing a personal guarantee, which means should the business fail and have insufficient assets within the business to repay the loan, we can look to the guarantor(s) to repay any shortfall on repayment. There have been no CCJs for the business or director. This is the fourth time the business applied for a loan after successfully repaying past campaigns. The Equifax score and grade, on which we base our assessment of risk, are based on the 2022 accounts. We have performed our assessment on recent financial information, including 2023 management accounts, which were not available to Equifax. The 2023 financial accounts reflect a substantial growth in the company's retained earnings by 52%, underscoring its robust financial well-being. The accounts show that profit before tax is £1,352,336 and net equity is £ 10,539,921. The EBITDA was strong at c. £1,618,060; and a positive net gearing which would make the loan affordable. The bank statements demonstrate reasonable affordability, and the accounts remain well in credit.
As the majority of lending to the business is at a fixed rate, they will not be immediately affected by interest rate increases. The directors do not expect to draw money from the business as the funds will be used for working capital and cash flow.
Where will the funds go?
"Old fashioned quality of service using modern technology"