Independent Legal Advice Certificates Services
We follow the subsequent procedure:
1. The pertinent documents are delivered to us by the Guarantor or their Solicitor.
2. We determine, in consideration of the Lender's Requirements, the necessary steps to ascertain the Guarantor's identity.
3. Subsequently, an interview is conducted via WhatsApp, a team meeting, or in person with the guarantor.
4. Kindly deliver the requisite documents to us via postal service to our Colchester address.
5. Additionally, you will be required to submit a confirmation of advice form. To verify whether the advice you have received is accurate.
6. Following a discussion with the guarantor and confirmation that he or she comprehends the guarantee in its entirety, we shall affix the Independent Legal Advice Certificate. All documents shall subsequently be returned to the guarantor or their solicitor.
7. We are fully equipped to modify this procedure to meet the specific demands of individual lenders.
Independent Legal Advice
Equity Release
Equity release permits owners of real estate who are 55 years of age or older to discharge equity from their holdings without the obligation of monthly payments.
Transfer of Equity
Independent legal services are necessary for the party being removed from a legal title in order to safeguard both themselves and the transaction against potential future scrutiny.
Agreement for Loan
Although both parties may share a common understanding of the loan's purpose, they retain distinct interests. When drafting your loan agreement, the attorney will be acting in their client's best interest, regardless of whether the client is the lender or the borrower. To act in their own best interest, the opposing party should retain their own attorney.
Bridging Loan
In situations where immediate access to funds is not possible, this loan serves as a temporary financing alternative, enabling you to bridge the gap until such time as you obtain the necessary funds. Borrow the necessary amount so long as you satisfy the lender's criteria.
Occupier Waiver Form
A deed of postponement, also referred to as an occupier consent form, mandates that any individual over the age of 16 who occupies a property must affix their signature on an occupier waiver form and obtain independent legal counsel.
Joint Borrower, Sole Proprietor
A Joint Borrower, Sole Proprietor mortgage differs in that not all mortgage signatories are the property's legal owners. In the case of mortgage guarantors, who are obligated to abide by the terms of the mortgage but do not possess any ownership interest in the property and their names do not appear on the legal title.
Borrower & Proprietor Mortgage
In such transactions, a mortgage is obtained from a borrower who is also the proprietor (legal owner), but the funds are being used for a purpose to which the borrower does not gain any advantage.
Sole Borrower, Joint Proprietor Mortgage
Sole Borrower, Joint Proprietor refers to a situation in which one party obtains a mortgage while multiple parties are listed on the title. The lender mandates that the non-mortgagorizing party residing at the property obtain independent legal counsel.
Director's Personal Guarantee
In order to secure a mortgage, mortgage lenders require that a corporation obtain one, and its directors furnish an individual guarantee to repaid the borrowed funds.
Personal Guarantee Insurance
Directors of Limited Liability Companies based in England and Wales who have executed a Personal Guarantee pertaining to commercial financing, such as a mortgage for property purchase, are eligible for Personal Guarantee Insurance coverage.