iLA | Personal Guarantee

Personal Guarantee

When you provide a personal guarantee to the bank or another lender, you are agreeing to act as a guarantor for the money owed (and so the debt obligations) by another party - for example your limited company.

This means that if your company misses a repayment or an event of default arises, then you have guaranteed that you will step in and pay.

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Why do I need independent legal advice?

ILA is required when you are entering into a personal guarantee, as you are being placed at risk but not receiving a benefit from entering into the transaction. The third-party formality is required to protect you from entering a transaction without knowing the potential risks involved, and make sure that you understand what it is you are legally agreeing to.

Also, cutting to the chase, ILA is needed because the lender requires you to have the advice. Without it, you are very unlikely to be able to complete the wider transaction. It must be given by an Solicitor or Chartered Legal Executive, and that’s why you have arrived here!

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

  • Step 1 - BOOK YOUR ILA

    We offer a same day service, and our team of dedicated experts are available 7 days a week between 8am - 8pm.

    You can book your ILA online now, or request an immediate call back to arrange a convenient time for your ILA. You can also just call in to speak to one of our dedicated iLA team members.

    We will help guide you through the process and explain what documents we will need to provide your ILA.

  • Step 2 - ONLINE MEETING

    Once we have received the ILA documents and on-boarded you as a client (using leading technology to ensure the process is as quick as possible) we can usually provide you with your ILA (via an online meeting) within 2 hours. Or you can let us know a day and time that suits you best.

    We will provide you with the advice online, via our iLA personalised meeting room. You will just need a laptop, phone or tablet to join the meeting. From our years of experience, the meetings tend to last for no more than 30 minutes

  • Step 3 - SIGN AND RETURN THE DOCUMENTATION

    During our online meeting, you will sign the relevant documentation.

    We can guarantee that your ILA will be compliant and your documents are correctly witnessed, and we will also help you to return the documents to the correct party in the transaction. Our dedicated team is here to make sure that you do not experience any delays or inconvenience.

    Following our meeting, we will immediately contact the lender to advise that the ILA has been provided and so the whole process can be completed, from start to finish, in less than a day.