Your Guide to Swift Independent Guarantee Advice
December 1, 2025 2:18 pm - Categorised in: Commerical Services, EFN-News
Did you know that Ellis-Fermor and Negus offers a quick turnaround when advising clients Independent Guarantee Advice (IGA) (also known as Independent Legal Advice).
This service is for clients who:
- Are purchasing or re-mortgaging a property in a company name and their lender require the director(s) involved to see an independent solicitor to sign a guarantee agreement in a personal capacity.
We advise the clients of the personal risks they are taking and their level of accountability when signing a personal guarantee, rather than in their capacity as director. This may involve them becoming personally liable for the repayment of the loan including costs and expenses if their Company, in the capacity as a borrower, fails to meet the terms of the said loan agreement. Once the advice is provided, we witness the director(s) signing the key documents. We then promptly send on the signed security documents to their solicitor acting on behalf of the purchase or re-mortgage.
We can provide this advice in person or online (if the lender involved allows it). Equally with the lenders consent, a solicitor from EFN can provide the IGA while another solicitor at EFN works on the purchase or re-mortgage. This would allow your matter to be consolidated within the firm, which would ideally save you time and extra administration.
- Signing what is legally known as a ‘Joint Borrower Sole Proprietor’ (JBSP) mortgage.
This usually involves a parent adding their name to a mortgage deed to help their child buy a property. With a parent adding their name to the mortgage, it increases the amount of funds their child could borrow from their lender. Before signing the deed, the lender usually requires the parent to see an independent solicitor. This is to confirm they are aware of the fact that they are forfeiting any legal rights they accrue over time on the property in favour of the lender.
An IGA or JBSP is something we can provide and produce within a relatively short timeframe if necessary.
If you need help with getting an IGA or JBSP sorted, please contact your closest Ellis-Fermor and Negus branch for a cost quote and to arrange an appointment.
This article was written by Simon Chevassut, one of our commercial property solicitors, who is based at our Beeston office.
If you would like Simon to assist you, please contact him using the following:
Email: simon.chevassut@ellis-fermor.co.uk
Telephone: 0115 922 1591
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About Simon Chevassut
