Independent Legal Advice is typically required by lenders to complete a transaction and is commonly required in the following circumstances:

1. Director’s Personal Guarantees
2. Third Party Legal Mortgages, where a third party offers additional security on behalf of the Borrower
3. Occupier’s Consent to a Mortgage
4. Joint Borrower Sole Proprietor Mortgage, where there are multiple Borrowers but only one of those parties is providing the security, allowing the other to claim ownership on the property.
5. Joint Proprietor Sole Borrower Mortgage, where there is one Borrower but those funds are used to
6. Legal Mortgages in general

How does the process work and what are the steps?

It is now a common requirement for lenders to request independent legal advice. We advise clients about the potential implications and liabilities associated with entering into a security documents, by undertaking the following:

1. A review of the mortgage offer and legal charge and any other deeds;
2. Providing a written report to you, advising you of the terms of the security documents;
3. A 20 minute face to face meeting, confirming you understand the implications and liabilities under the security documents;
4. Completion of a solicitor’s certificate that legal advice has been provided; and
5. Sending the certificates to the lender or your instructed solicitors acting on behalf of the transaction.

We understand that obtaining Independent Legal Advice is often a last minute requirement and is therefore time-sensitive. We offer a fast, quick turnaround service to ensure your transaction proceeds smoothly.

If you require Independent Legal Advice, our team would be pleased to discuss your requirements with you and provide you with a costs estimate. Please get in touch with us here.