Why do I need independent legal advice?
The third-party formality is required to protect you from entering into a fixed or floating charge without knowing the potential risks involved (for example, your business assets could be taken by the lender and sold if repayments are not maintained). iLA’s independent advisor will ensure that you are not being “induced” (persuaded or convinced) into the transaction and that you understand what it is you are agreeing to (your obligations and associated risks).
Whilst having ILA can feel like an inconvenience and an additional cost, it is important to bear in mind that it is not just a formality - it is a serious legal requirement to make you fully aware of future risks and possible liabilities, and without the ILA, you will not be able to complete the wider legal transaction.
How can you help?
Our dedicated team is here to make sure that you do not experience any delays or inconvenience and, by using our decades of expertise helping clients with banking, finance and property matters, and deploying leading technology, we can deliver the ILA need in the most fast, efficient and cost effective way