Independent Legal Advice for Loans, Mortgages and Guarantees
Solicitor certificates for Victorian loan, mortgage and guarantee documents
If your bank, lender or broker has told you that you need independent legal advice before signing loan, mortgage, guarantee or related security documents, Cream Legal can review the documents with you, explain the legal effect of what you are signing, and provide a solicitor’s certificate where appropriate.
This service is available for individuals, guarantors, mortgagors, borrowers, companies, company directors, trustees and others who have been asked by a lender to obtain independent legal advice.
Fees start from $1,100 including GST per solicitor certificate.
When might I need independent legal advice?
You may be asked to obtain independent legal advice where you are:
- supporting someone else’s borrowing by going guarantor (guaranteeing another person’s borrowing) or providing security
- allowing a bank or lender to take a mortgage or other security over your home or other property
- signing finance, personal guarantee, or other security documents connected with a company or trust loan
- entering into a reverse mortgage or equity-release arrangement
- borrowing through your self-managed superannuation fund to buy property under a limited recourse borrowing arrangement, including where personal guarantees or security are required
The purpose of independent legal advice in these scenarios is to ensure that you understand the legal effect of the documents and the obligations and risks you are considering taking on, before you decide whether to sign.
How the service works
Before your appointment, you will need to email Cream Legal the complete document set and the requested identification documents. Cream Legal will review the documents and provide you with a written letter of advice explaining the key terms, obligations, risks and legal consequences relevant to your transaction. You must read the written advice before attending the appointment.
The appointment is conducted in person at your premises within Melbourne’s south-east, Mornington Peninsula and surrounding areas. During the appointment, Cream Legal will discuss the written advice with you and any queries or concerns you may have, answer your questions, verify your identity and, if you decide to proceed, complete the relevant signing and solicitor certificate process.
Important to note:
- Cream Legal provides Law Institute of Victoria solicitor certificates. We do not complete or sign solicitor certificates prepared or supplied by a bank, lender, broker or other third party.
- A solicitor’s certificate is not automatically issued simply because an appointment has taken place. We will only issue a solicitor certificate following the document review and advice appointment, if it is appropriate to do so.
- You must bring the complete printed document set that was provided to Cream Legal for review, and your original identification documents together with printed copies of your identification documents so that they can be certified in person on the day of your appointment.
- Cream Legal does not provide printing, scanning, or postage facilities for bank or lender documents. You are responsible for returning the original completed documents and any solicitor certificate to your bank, lender, broker or other requesting party.
- Fees are charged for each solicitor certificate, not per transaction.
- Additional fees apply for urgent turnaround or attending outside Cream Legal's local service area.
- Payment is due in full on the day of the appointment and remains payable whether or not you ultimately sign the documents or a solicitor’s certificate is issued.
How quickly can an appointment be arranged?
Loan and guarantee matters are often time-sensitive.
Cream Legal may be able to accommodate short timeframes depending on availability and the complexity of the documents. An urgent turnaround fee applies where an expedited appointment is requested and accepted. Sufficient time must still be allowed for the documents to be reviewed and the written advice prepared before the appointment.
An appointment cannot be confirmed until Cream Legal has enough information to determine the scope of the matter. When making an enquiry, please provide:
- the complete document set
- the date by which the lender requires the documents
- the proposed settlement date, if applicable
- a brief explanation of what the bank, lender or broker has asked you to obtain.
Need independent legal advice before signing loan documents?
Understand exactly what you are agreeing to before you sign.