At ILA-Connect, we have a dedicated network of firms of solicitors nationwide ready to deliver Independent Legal Advice to your clients. All you need to do is get in touch with us today and we can arrange an appointment with a solicitor on your client’s behalf at their convenience – it’s as easy as that. Whatever their priorities, property matters or personal circumstances, we will take care of this requirement to keep the process moving and ensure the condition for independent legal advice is promptly satisfied.
A lender can require Independent Legal Advice for a variety of borrower situations and mortgage lenders are you may know from your own experience mortgage lenders are increasingly requiring it as a condition of a mortgage. Mortgage lenders are concerned that the Courts have bestowed a duty of care on them to ensure borrowers understand the terms of loans in which they are liable for the repayment of a large sum of money or waive some of their rights without directly enjoying the benefit of the loan. As a result, the lender will ask that they seek Independent Legal Advice as a prerequisite to the completion of a transaction.In doing so, the lender can protect themselves from the borrower claiming the loan was taken out as a result of undue influence or lack of understanding of the consequences of taking out the loan.
The main objective of independent legal advice, therefore, is to ensure all parties involved or effected by the loan agreement understand the extent of their liability and are not influenced or pressured into signing anything by other parties without full disclosure of the true meaning of the document. On the surface, it may seem like a tick-box exercise, however to a mortgage lender, it has become an essential means of mitigating its risk.
The need for Independent Legal Advice is commonly associated with the following situations:
Since independent legal advice by nature is independent of any of the other parties involved in an agreement or transaction, the client cannot usually rely on their conveyancing solicitors who they have already instructed in the transaction. What’s more, since independent legal advice is viewed to be an area of high-risk to many law firms, it’s not always easy to find a solicitor who will offer this service for a competitive fee.
When a borrower needs independent legal advice as a prerequisite to a mortgage agreement, the last thing you need is for the loan to be put on hold as the client attempts to find a provider. We regularly aid mortgage brokers and intermediaries by connecting their clients to qualified solicitors through our network, whether locally or online. We can often even arrange for the advice online and outside of normal working hours so your client won’t even need to suffer any disruption to their daily schedule!
All that’s needed is for you or your client to ILA-Connect: we’ll assess the specific type of advice they need, and whether it can be delivered online to save, we will arrange the advice to be supplied at their convenience with a minimum of fuss. From there, the certification your client needs from a solicitor stating they have received independent legal advice will be available and so allowing them to proceed in their transaction.
If your client requires independent legal advice and you or your client needs assistance, just get in touch with ILA-Connect today at [email protected] or call our office on 0333 300 1879. We’ll get back to you promptly to set up an appointment for your client at the earliest possible stage.
If you have their details to hand and want to get the ball rolling, just click the ‘Get a Quote’ button to obtain a custom quote to satisfy their independent legal advice requirement.
