What is Independent Legal Advice?

If you're taking on a separate risk, a lender may ask you to speak to your own independent solicitor before you sign.

The solicitor's job is to make sure you understand the document, the obligations you're accepting and the risks involved, and that you're making the decision freely.

Common situations where ILA is needed include:

• Signing a personal or director guarantee
• Consenting to a mortgage as an occupier
• Being a joint borrower but not a property owner
• Providing a property as security for someone else's borrowing
• Signing lender-required consent or postponement documents