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Oakwood Solicitors have been amazing. Very prompt and helpful; can’t fault them at all.
Quick, efficient and friendly.
Independent Legal Advice for a joint mortgage , sole proprietor purchase. Quick efficient and friendly and reasonably priced.
Impartial and professional
legal service with free initial consultation.
The best client care
with a dedicated representative from start to finish.
lead by an in-house, experience team.
Independent Legal Advice (ILA) is a signed document to confirm that you have received legal advice in relation to a particular matter. The advice must be taken from an independent alternate solicitor or Chartered Legal Executive who is not involved in the original proceedings.
What is a joint borrower, sole proprietor mortgage?
This is a situation when one or more borrowers take out a mortgage, but one of the borrowers is not the owner of the property.
Examples of this are:
The mortgage lenders in these circumstances will want you to choose a solicitor and then notify them of your choice. They will then send the relevant paperwork to ourselves and we will arrange an appointment to take you through this.
What does it involve?
The issue for the borrower is that they are on the mortgage but not on the title deeds of the property. This could mean that they may end up having to pay for the whole mortgage if the other borrower defaults and they have no legal entitlement to that property.
It is therefore important that the borrower understands the consequences of signing for the mortgage and this must be done by way of an independent solicitor to the transaction.
How much will it cost me?
We charge £160.00 plus VAT.
What does the process involve?
We need to adhere to the following points to accomplish this for you:
Why use Oakwood Solicitors Ltd?
We know that when a lender asks you to sign paperwork that could mean that you put your savings, house or other monetary items on the line that it can be very daunting. You could be guarantying to pay a large debt back that could have severe knock-on effects for your personal life.
We want to make sure that it is explained to you in a fully concise manner before you sign the paperwork.
All you need to do is contact our team at Oakwood Solicitors Ltd, and we will do all we can to make proceedings as painless as possible:
Danielle Lightfoot is a Director and our Head of the Financial Litigation Department. Danielle joined the firm as a Paralegal in 2011 and qualified as a solicitor in October 2014. She has acquired extensive experience in high value, complex litigation traversing numerous practice areas. Danielle is a specialist in financial miss-selling matters, with a particular interest in Pensions and Investments.
Danielle assisted in setting up the Finance Litigation Department. She took over as Head of the Department in 2017 and since then the firm has established a reputation as one of the leading law firms specialising in financial mis-selling claims.