INDEPENDENT SOLICITOR CERTIFICATES
Financial institutions may require borrowers or guarantors to seek independent legal advice.
Explained
Appointments with Carolyn for Independent Solicitor Certificates take approximately one hour, during which we verify your identity, review the documents you are being asked to sign, provide you with impartial advice on the obligations you are agreeing to, answer questions, witness you signing documents and provide you with an Independent Solicitor Certificate. We have an indepth article and you can read it here – Independent Legal Advice Certificates
As an experienced property and commercial Solicitor, Carolyn is able to identify clerical errors in the documents before you sign, any matters that need correcting and provide you with trusted advice on whether signing a Guarantee is in your best interests.
We are required to meet with you alone (without the presence of the party you are guaranteeing a loan for) to ensure you understand the Guarantee and to verify you are not being pressured to sign by a family member or friend. If you are under financial pressure, we can refer you to support services who can assist you.
Clients who invest in less thorough legal advice appointments with other firms are often not made aware that signing a Guarantee may require them to grant a first or second mortgage over their home or other property as security.
Guarantees can affect your ability to sell your property in the future, and you may have to deal with the Bank or Financial Institution holding your Guarantee (as well as your own Bank) to arrange settlement of your sale. A condition of releasing the Guarantee Mortgage could be that money from the sale of your home or property is paid by you to the Financial Institution in exchange for them releasing your Guarantee.
Independent Solicitor Certificates are also commonly referred to as:
- Legal Advice Certificate
- Guarantor Legal Advice Certificate
- Independent Solicitor Advice
Borrowing from a Private or Smaller Lender?
If you require an Independent Solicitor Certificate for a private-lending matter, we have an Independent Solicitor Certificate which is approved by the Queensland Law Society and which can be adapted to your circumstances.
Our accessible office (including a lift) is situated in Loganholme adjacent to the Pacific Highway. Our offices are secure, private, and discreet.
What does an independent legal advice certificate cost?
We charge a fixed fee of $550 for up to two people (inclusive of GST) for legal advice and an independent solicitor’s certificate to advise a loan guarantor.
If the loan or financial arrangements are particularly complex or involve multiple parties, we may need to provide you with a quote after receiving the documents and before we give the advice. Get in touch with us today.