Independent Legal Advice

Bank and other Personal Guarantees

Bank guarantees and personal guarantees are requested from individuals by Banks and other lenders in a number of different circumstances, usually to provide additional security for borrowing. Proprietors, partners and directors of limited companies may be requested to provide personal bank guarantees for their business’s borrowings so that the bank has additional banking security to that already in place. A guarantor undertakes that he or she will repay a debt incurred by another person or company to a bank or other creditor if the original borrower cannot or will not pay At all times it is recommended that independent legal advice is sought before signing any bank security documentation as it could have serious implications for you and your own assets.

Consent Forms

If you are purchasing a property and someone is going to live there with you who will not be one of the legal owners, your mortgage lender may require that person to confirm that they are aware that the mortgage exists, and that they agree to waive any rights they may have or acquire in the property. Banks or other lenders will require that that person receives independent legal advice, which we can happily provide.

Deed of Priority

If you take out a second mortgage over your property, your first mortgage lender may require to come to an arrangement with the second lender as to their interest in your property. We can act on behalf of either lender in the preparation of a document which will govern these priorities.

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