Independent Legal Advice
Property & Conveyancing
Newcastle's Leading Advisors On Property, Conveyancing & Mortgages
Burgess Thomson recognises the crucial role of independent legal advice in property and conveyancing matters, particularly when multiple parties and significant financial decisions are involved.
Whether you are a guarantor, lender or borrower, engaging in mortgage agreements, or require general independent legal counsel, our experienced legal team is equipped to guide you through the complexities with clarity and precision.
How Burgess Thomson Can Help with Independent Legal Advice
Tailored Legal Guidance
Our legal services are designed to offer comprehensive independent advice tailored to the specific needs of each client. Here’s how we can assist:
For Guarantors: We provide detailed advice to guarantors, ensuring they understand their responsibilities and the implications of their commitments. Financial institutions often require guarantors to receive independent legal advice, and we ensure that this advice is thorough and clear, protecting your interests and meeting legal requirements.
Mortgage and Loan Agreements: Navigating mortgage documents can be daunting. Our legal experts simplify the legal jargon and clarify the terms of your mortgage or loan agreements. We help you understand all aspects of your obligations and rights, ensuring that you make informed decisions.
Enforceability and Documentation: We assist in making your agreements enforceable. Our team ensures that all necessary legal documents are accompanied by a signed certificate of independent legal advice, as required for legal validity in court proceedings.
Strategic Risk Management
Understanding the full scope of any legal agreement is crucial to managing potential risks. Our independent legal advice aims to identify and mitigate these risks before you proceed with any transaction or agreement.
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Why Choose Burgess Thomson?
Experienced Legal Professionals
Burgess Thomson is home to a team of highly skilled lawyers with extensive experience in providing independent legal advice across a range of issues. Our expertise ensures that the advice you receive is not only comprehensive but also up-to-date with current laws and regulations.
Client-Focused Approach
Our approach is client-centered, meaning we prioritise your needs and goals in every consultation. We take the time to understand your situation thoroughly and provide personalised advice that addresses your specific legal needs.
Proactive Legal Solutions
We are proactive in our legal services, anticipating potential issues and addressing them before they become problematic. This approach allows us to safeguard your interests effectively and prevent future legal complications.
Reputation for Excellence
Burgess Thomson has established a reputation for excellence in the legal field, particularly in Newcastle. Our commitment to high standards of practice and client satisfaction makes us a trusted choice for independent legal advice.
Accessibility and Support
We understand that legal processes can be stressful. Our team is dedicated to making your experience as smooth as possible, providing ongoing support and readily available communication throughout your legal journey.
Partner with Burgess Thomson for Independent Legal Advice
Whether you are about to become a guarantor, are dealing with mortgage documents, or need any form of independent legal advice, Burgess Thomson is here to ensure your decisions are informed, your rights protected, and your legal obligations clearly understood.
Contact us or request a quote to schedule a consultation and take the first step towards securing your legal interests with confidence.
FAQ's
Any individual entering into a legal agreement or signing a contract should seek independent legal advice. It is important for the individual to have a clear understanding of the document and conditions in which they are involved. It is also important to understand the potential ramifications of being a guarantor in a binding and enforceable agreement. A lawyer is able to provide the client an objective review of the document and ensure that they have not been pressured into signing anything without sound understanding.
When providing legal advice, your solicitor will need to read through all documents in question and meet with you to discuss your reasons for entering into the agreement. If you are then satisfied with the conditions of the document you are required to sign a statutory declaration that states you have received independent legal advice. All matters discussed and your statutory declaration is kept on record for future reference.
A guarantee is a binding agreement between a lender, borrower and a guarantor. The guarantor makes a promise to the lender to pay the debt owed by the borrower if the borrower cannot do so. Many parents make personal guarantees on their children’s home loans to help their children enter the property market. This is sometimes referred to as a Family Security Guarantee. As a guarantor you make be required to offer you assets, such as your house or car, as security for the loan. If the borrower defaults, the lender would be able to sell your assets to reclaim the debt.
One of the main risks is that if the borrower cannot make their monthly loan repayments, you may be required to pay instead. If the borrower defaults on the loan, the lender will most likely sell their assets first in order to recover the debt. However, if there is a shortfall, your assets could also be claimed by lender.
Acting as a guarantor may also mean that your ability to borrow may be reduced. This may be the case even if the borrower can repay the loan. You may also need the lender’s approval if you wish to sell property which has been offered as a security.
It is also important to consider that if you pay money to the lender, you may be unable to reclaim it from the borrower. If the borrower cannot afford to pay the debt, it is unlikely they will be able to pay you back.
It is also possible that you could end up with a bad credit report if both you and the borrower cannot pay back the guaranteed loan.
If you are considering providing a personal guarantee for a company, there are extra things to consider. You should ensure you are aware of things such as the company’s ownership, structure, finances and forecasted revenue. You will want to ensure that the company is in a good financial position with good prospects for future revenue. This will reduce the risk of you being forced to pay the debt if the company cannot.
