When a client needs support with a legal matter, they will typically seek independent legal advice. But what is this exactly? In this blog, we will cover what you need to know.
What Is Independent Legal Advice?
Independent legal advice is sought when a body – such as a lender – requires you to gain specific and impartial expert advice in relation to documentation from a legal advisor who works independently. This means that the legal advisor is not tied to the lender.
What Types of Independent Legal Advice Are There?
Various transactions require independent legal advice from a provider such as https://www.samconveyancing.co.uk/news/conveyancing/independent-legal-advice-4849. These include:
– Occupier consent forms for a property
– Personal guarantees, such as when you guarantee the mortgage or loan of a family member
– Financial securities information, where you own land or property and offer this as security to a lender
– Direct advice, where a solicitor might provide information on a mortgage and provide face-to-face advice
There are various other instances when this type of advice is needed, including employment law, any kind of guarantee, family law and so forth. In fact, in most instances of law, it will be important for the client to see this kind of independent advice to ensure they are fully apprised of the facts before progressing in any way.
Why Is Independent Legal Advice Important?
Legal paperwork is complex and often very lengthy. Lenders need to make sure that their customers genuinely and fully understand the terms and conditions of the legal contracts they enter into, whether that’s a mortgage, a loan or some other kind of transaction.
By seeking independent legal advice, the client has peace of mind that they have been given full, expert and impartial advice that allows them to make a clear and confident decision. This service also helps them to make a decision that will be compliant and will also stand up in court if there is any later court action. This is important, as without access to legal advice, there may be later issues with contracts if the parties involved didn’t both fully and wholly understand the terms and conditions that applied to that contract.
Where to Find Independent Legal Advice
There are many sources of independent legal advice, from high-street solicitors to national firms with phone support and online resources. Truly independent solicitors will describe themselves as such and be listed on quality registers. The majority of solicitors operate on this basis and will provide ready information about their status.