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propertylawyer, Solicitor
Category: Law
Satisfied Customers: 288
Experience:  Property Solicitor with expertise in commercial and residential property transactions.
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I am taking out a loan of £100k and the document says

Customer Question

I am taking out a loan of £100k and the document says "Personal guarantees duly supported buy independent legal advice and personal net worth statements" do I need a solicitor for this or is there a template i can fill in that will give bank the reassureance
Submitted: 1 year ago.
Category: Law
Expert:  propertylawyer replied 1 year ago.


Thanks for your question.

You will need independent legal advice. the solicitor will need to witness your signature on the deed and may have to send the lender a certificate stating you have been advised of the terms of the deed, implications, freely signed without any influence.

Without this the lender will not release the funds.

You cannot do this yourself, unfortunately.

Expert:  propertylawyer replied 1 year ago.

Do you have any further questions.

Please rate my reply.

Expert:  propertylawyer replied 1 year ago.

Please can you rate/accept my answer.