Cost

We charge a fixed fee £150 plus vat per independent legal advice certificate.

What do we need from you?

What we need from you in the first instance?

• We will need to on-board you, so we will need the following in the first instance:
• a copy of your passport or a valid UK photocard driving licence;
• a utility bill (not mobile phone) or bank statement (that’s dated within the last 6 months);
• the documentation from your lender (i.e. Loan Offer; Guarantee; and any ILA Certificate); and
• the details of the solicitor acting on the main transaction (as quite often we have to send the certificates there).

Important: you will need to check with your lender: (i) that they are happy for you to receive the advice online i.e. via Skype; Facetime; WhatsApp; Zoom; Teams; or anything similar; and (ii) they are happy for the witness to be a third party rather than me. When you have this confirmation, please send to us the email which contains the confirmation; and

For our online meeting we will require you to have your passport to hand so we can verify it’s you and you must ensure that there is no one else present during the meeting.

When is independent legal advice needed?

Usually, ‘Independent Legal Advice’ (otherwise known as an ILA) is required in property transactions and is a requirement of the lender.

Often, independent legal advice is needed for:

• Personal guarantees;
• Director’s guarantees;
• Where there’s a possibility of undue influence;
• Bridging loans where there’s a Guarantee; and
• Buy To Let Loan where there’s a Guarantee.

Why is it needed?

Essentially, the lender will require you to have the advice to ensure that the risks have been explained to you and so that a formal certification exists to document that you understand the same. Usually, the lender won’t proceed with the main transaction without it.

Advice is therefore required on the Guarantee(s), which is separate and independent to the main transaction.

Timing

• We can try to also operate outside of normal office hours.
• We try to fit around you and understand the need to have the advice given and completed as soon as possible.
• We will try and advise you on the same day or the next day once you’ve been ‘on-boarded’ and provided the information set out in the ‘What do we need from you?’ section below.

About Us

James Goff is a specialist property lawyer with nearly 20 years’ experience.

His profile can be found here: https://www.keystonelaw.com/lawyers/james-goff