Property Focus: Q&A with Raj Ali

RAJ Ali is legal director with specialist law firm Arc Property Solicitors.

Arc Property Solicitors specialise in residential and commercial conveyancing. Established in 2004, Harrogate-based Arc has undergone dramatic growth over the past six years, handling in excess of £400min property transactions and employing over 40 staff.

1. How difficult is it to operate in the property sector at this time?

There is no doubt that these are tough times. Mortgage providers have tightened their lending criteria and confidence in the property market is fairly shaky at the moment but it is all about the right strategic planning. Over the past few years we’ve worked hard on restructuring our firm, introducing various new innovations and positioning our business so that it is as adaptable as possible to change – therefore, it has not been too difficult for us.

2. Looking into your crystal ball, what are your predictions for the industry over the coming months?

With regards the property market, I think we’ll be looking at prices remaining steady until the back end of this year, at which time we should hopefully see confidence returning and prices on the up.

In the legal industry there will be a lot of mergers, particularly as we approach the introduction of Alternative Business Structures in October. Firms will look to merge and consolidate to remain competitive in the market.

3. If you could improve anything in the region what would it be?

Aside from the weather, I would like to see better direct transport links as this can have a major impact on a commuter’s quality of life.

4. How does the Yorkshire commercial property market compare to other regions in the UK?

It’s still lagging behind some other areas but we’ve seen a big push to build more commercial property in Yorkshire in recent years and this has raised the region’s profile.

It’s a shame there is still a sizable proportion of commercial projects that remain empty, but there is will and vision in the region and hopefully things will improve with an economic upturn.

5. What has been your biggest business mistake/achievement?

My biggest mistake was probably turning down an offer to work for a firm in London, although the salary being offered at the time would have only afforded me a shoebox to live in.

My biggest achievement is being made partner at Arc at the age of 30.

6. What is the best project you’ve been involved in?

I worked on a deal with a major telecoms company involving 6,000 properties that eventually saw the launch of the third generation of mobile phones. Being part of the executive committee that advised on the project was a real buzz, particularly as I was in my early twenties at the time.

7. What drives you to be the best in your field?

It’s the knowledge that what I do directly impacts the business and staff. Dealing with a wide range of clients is also a great motivator. Helping a first time buyer onto the ladder brings with it a sense of satisfaction… and it’s also interesting to see what the serial investors are getting up to.

8. What would be the biggest thing that could be done to improve the property sector in this region?

A real commitment to improve the lending flow from the banks. At the moment It is all about sound bites and token gestures which do not go far enough. A real change in thinking is required before the market has enough confidence to pull itself back up.

9. Name the person who has most inspired you and the one who has had the biggest influence on your career.

My dad has been the most inspirational and the biggest influence in my career. He instilled a work discipline which has stayed with me throughout my career.

10. What are the best and worst pieces of advice you’ve been given?

Best: Always go with your instinct. It has worked so far.
Worst: Start revising for your exams early and don’t cram it in at the end. I always got poor marks when I did this. Do the opposite.