Independent Legal Advice (ILA)
Independent Legal Advice (ILA)
An independent solicitor is an external, unconnected professional who is not directly involved in the transaction and has no vested interest in its outcome. The purpose of obtaining independent legal advice is to ensure that the person receiving the advice fully understands the legal implications of the agreement they are entering into.
When is Independent Legal Advice Needed?
Independent Legal Advice is commonly required in situations such as:
- Personal Guarantees – When someone is acting as a guarantor for a loan or mortgage.
- Joint Borrowers, Sole Proprietor Mortgages – If a joint borrower won’t have ownership rights to the property.
- Company Director Guarantees – When directors personally guarantee business loans.
- Gifting or Transferring Property – To prevent claims of coercion or undue influence.
- Divorce and Family Law Agreements – Such as financial settlements or pre/postnuptial agreements.
How Does It Work?
- The individual meets with a solicitor who is not connected to the other parties involved.
- The solicitor reviews the documents and explains the legal risks and obligations.
- The individual confirms they understand and wish to proceed.
- The solicitor provides a signed Independent Legal Advice Certificate, which is often required by lenders or other parties.
At Wildings Solicitors, we provide impartial and comprehensive Independent Legal Advice (ILA) to ensure clients fully understand their decisions. After giving advice, we issue an Independent Advice Certificate, often required by mortgage lenders, solicitors and other parties, confirming that the individual has been properly advised before entering into an agreement.
Book your initial consultation with our Employment Solicitors in Birmingham. Freephone 0330 333 8797, request a callback or email info@wildings-solicitors.co.uk for specialist advice.
