Mortgage Document Advice – Are your Interests Protected?

Conveyancing Process NSW Sale

If you’re getting a loan from a lender it is a good idea to seek independent legal advice. We assist with residential and commercial lending and security whether you are repaying money or borrowing money so that your interests are protected.

Sometimes, it is even a requirement of the lender that the borrower or guarantor obtains independent legal advice before they will finalise the loan. This is most common when:

  • A mortgage is over someone’s property that is not the borrower as a guarantee that the loan will be repaid on time;
  • A person who is retired is seeking to mortgage their home to provide funds to live on or to pay for renovations, maintenance, etc that they couldn’t afford without doing so (ie.
  • A superannuation fund is borrowing to purchase a property;
  • A company is borrowing and the directors are required to secure the loan with their assets.

Sometimes a ‘Certificate of Independent Advice’ is required by a lender. When a Solicitor does this Certificate it means that they take on the professional responsibility of ensuring that the legal implications of every document that the lender asks to be signed are understood.

This does take some time to review these documents in depth so we ask so we can assist you to complete the documents and associated declarations to please ensure to contact us at least a week in advance to ensure your documents are reviewed in time.

Important Disclaimer: The content of this article is general in nature and for reference purposes only. It does not constitute legal or financial advice and should not be relied upon as such. Legal advice about your specific circumstances should always be obtained before taking any action based on this publication.

Previous Post
Are you in the process of buying your first Strata Unit?
Next Post
Legal requirements for obtaining a divorce