– what it is and how to obtain it

One area that I have advised on increasingly during the recent property boom has been cases where clients have required ‘independent legal advice’ (ILA) in a property transaction.

Two common examples of situations when this can occur can be:

• where a client runs a company as a director, but is personally guaranteeing the mortgage on a commercial property
• where a client is a family member who is occupying the property which is being re-mortgaged, perhaps by other members of the family.       

In such situations, the mortgage lender needs to be reassured that the client is 100% aware of his/her rights and obligations. This is a very risky area for lawyers, who need to be even more careful than usual, and be on their guard against any undue influence or identity theft of individuals. It could result in a six or seven-figure negligence claim by either a lender or a client if not done properly. The solicitor owes professional duties to both the lay client and the mortgage lender.

I have come across horror stories related to me by clients who say they were never advised properly when their lawyer was supposed to have given them thorough advice. I am still amazed by how incompetent some lawyers can be.

The lawyer giving the independent legal advice must be properly registered with the Solicitors Regulatory Authority and Law Society. You can check if your solicitor fulfils this requirement on the Law Society website:  https://solicitors.lawsociety.org.uk/  

 

Kuldeep S. Clair is qualified to provide ILA and can arrange it for you

• at a time at your convenience, including evenings and weekends
• remotely by video (unless you particularly want a personal face-to-face discussion)
• for a pre-agreed fixed fee, which depends on the nature of your matter

Please contact Kuldeep directly on 07484 614090 or kuldeep@ksclegal.co.uk 

Kuldeep Clair, Solicitor of the Senior Courts of England and Wales

KSC LEGAL