Local or remote advisors, accountant, solicitor etc

[JohnnyMid 3]

Hi, I live in Kent but I am looking (for various good reasons) at investing in Sheffield area. I'm currently assembling a team of advisors - accountant, solicitor, mortgage advisor etc - and evaluating the pros and cons of going local to where I live or where I will be investing. The obvious pro of having them to local in Kent is being able to pop in and see them in person at short notice but I suspect the costs down here are higher, perhaps a lot higher, than they would be in Yorkshire. An added weaker point is that people local to where I am investing might have local knowledge affinity etc.

 

Any thoughts?

 

Thanks

 

John

[dino v 145]

I'm in Manchester and my mortgage advisor is in Wolverhampton. Never met them, never needed to. So just find a good one wherever.

For the solicitor, again, try and find a decent one, however, you may find the mortgage company insist on one off their list. Shouldn't be a need to go in to see them, so location doesn't really help.

Accountant is the one where I chose someone local. Partly because why not, but also because it'll be easier to dump receipts and paperwork on him. Assume these could just be scanned in and shared, but it felt the one where it was worth being with someone when required.

[MVP Properties 0]

I havent got into this forum fully yet so I haven't even posted my introduction! However I saw this post and just though I would add my thoughts.

 

The above comments are valid and should help to make your decision less relevant on location, however it's worth noting that we don't know your full situation so specific advice like the above might not quite you especially where dino mentioned you won't need to go in to see your solicitor. It will depend on how experienced you are and how much you want to deal with these people face to face or over email and calls. 

 

If your investing through a Ltd company and getting a mortgage through that you more then likely will need to see your solicitor to have the standard legal spiel given to you. Something that has been covered in the podcast.

 

As dino mentioned, your choice should also consider how they operate, I.E. do they accept electronic documents or will you need to post everything? This could effect your decision so dependant on if you're happy to have them delays each time or not will also help to decide.

 

Hope that helps.

 

Paul