I have a guarantorwho is required to sign an “independent legal advice form”
I cannot find a solicitor willing to sign ‘the independent legal advice certificate’ form saying they have explained loan docs to guarantor. Guarantor is in SA and nobody signs them there. It’s almost as hard in NSW especially considering client is in SA.
Apparently you cannot get indemnity insurance to cover you and a lot of solicitors are getting sued over signing these docs….
however my client stands to lose out big time if their guarantor doesn’t have one signed by tuesday…
a very very stressful situation as you can imagine
Any clues anybody???????
Liz
Mortgage Lender
1300 780 826Hi Liz,
Have you checked with your BDM for a list of solicitors in SA who have previously signed the certificate on similar applications? good luck.Regards
Steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
The BDM has informed me that their risk department are well aware that nobody in SA will sign the doc. Also the SA Law Society cannot offer anybody either.
They’ve basically made it impossible.
As for NSW I cannot find anyone either, even people the NSW Law Society have suggested won’t do it. Apparently they can only witness a stat dec…
Liz
Mortgage Lender
1300 780 826Sounds to me like lenders are going to have to start rethinking some of their legal requirements.
Have you approached them, explained the “uniqueness” of the situation and requested an exemption?Keep smiling
Felicity
MANY many times. I’ve even provided their legal department with the caveat relating to this from the NSW Law Society.
I can only hope the legal adviser is not a complete ignoramous – which so far is the case.
Sad isn’t it
Liz
Mortgage Lender
1300 780 826
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