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loanLoan
Capital at risk
36
Months
16.0%
apr
Director
guaranteed
Capital at risk
Director guaranteed
Amount
£
You make
£
Minimum investment is £100
Total return
£
Monthly repayments
£

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

Bishopsgate Law is a conveyancing and property law specialists firm. We also have legal teams for wills, probate and employment law. Having qualified as a solicitor in December 1981, I am now Chairman at Bishopsgate Law which I founded in 2016, it’s become one of the fastest growing law firms and a leading residential conveyancing business in England and Wales. Alongside our fast growth, we also maintain a great reputation with our customers; we maintain a 4.9 score on Trustpilot with over 2300 5-star reviews. We firmly believe that high quality service should be a core part of modern business, whether a legal firm or otherwise.

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.

Credit commentary:
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.

Inflation risk:
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.

X

Business keeps the raised amount even if target is not met.
Loan - product type
Maximum
£ 109k
Raised
£ 97k
Investors
204
Est close date
3d 2h

Where will the funds go?

Cashflow
£54,348
Expansion of the business
£54,348

Key people

Martin Hugh Phillips
Director

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Business brand

Potters Bar, UK

"Old fashioned quality of service using modern technology"

Incorporated
7 years, 8 months
Credit risk indicator

Risk warning

Past performance and forecasts are not reliable indicators of future results. Your capital invested is not covered for compensation in the event of a loss by the FSCS. Tax treatment will depend on the individual circumstances and may be subject to change. Please see our Risk section before making an investment decision.