Independent Legal Advice
During a transaction, be it in a business or personal context, you may find yourself in a situation where you are being told that you need to take Independent Legal Advice.
Typically, Independent Legal Advice is required for a matter that is incidental to, but critical for the completion of a transaction.
Independent Legal Advice is commonly required in the following circumstances:
- Director’s Personal Guarantees (on Corporate loans and mortgages)
- Personal Guarantees ( where an individual guarantees repayment of a loan made to someone else)
- 3rd Party Legal Mortgages (where the Borrower is not the same person as the person offering the lender security)
- Occupier’s Consent to a Mortgage
- Family “Springboard” Mortgages
- Transfers of Equity
- Employment Settlement Agreements
By entering into any of the above documents, you will usually be agreeing to either take on some form of liability or waive some of your rights but without necessarily enjoying any direct personal benefit for doing so. It is therefore very important that you fully understand the implications and seek appropriate professional guidance. It is right that Lenders and Solicitors insist that you obtain Independent Legal Advice under such circumstances.
That said, being told to get Independent Legal Advice is almost always an unwelcome surprise. Too often the requirement is communicated at the eleventh hour causing uncertainty, expense and delays as you try to find a law firm willing and able to give you the advice you need in a reasonable timeframe.
At Attwells, we understand that obtaining Independent Legal Advice is often time-sensitive and always critical to your matter. We don’t think that your transaction should be delayed any longer than it needs to be. So, we have devised a simple and practical solution:
We offer :
- A dedicated Independent Legal Advice Service
- Quick turn around
- Fixed fees
Our aim, wherever possible, is to provide you with the Certificate of Independent Legal Advice within 72 hours of receiving formal instructions.
Our fee scales are simple too:
Basic Fee for ILA
(for one person)
£549.00 + VAT
Cost for each additional
individual requiring ILA
£149.00 + VAT
Occupier ILA fee
£250.00 + VAT
£149.00 + VAT
Advice needs to be given in person. Attwells has offices in Colchester, Ipswich and London.
If you require Independent Legal Advice, call our dedicated Independent Legal Advice Service on Colchester: 01206 766333 Ipswich: 01473 229200 or London: 0207 7722 9898 or email firstname.lastname@example.org today.