ILA Process

ILA Process

Have you been told you need Independent Legal Advice (ILA) but need clarification on the process?

Then this blog is for you! 

ILA is provided by a qualified solicitor or legal executive who must provide advice that is wholly impartial and advises on the consequences of the agreement being entered into. 

The lender usually requests them as a condition of a mortgage application.

Let's run through the process so you know what to expect! 

1. Firstly, you will be sent an engagement letter that you must sign and return. You will

also need to provide identification. 

2. Please note that the monies must be paid on the account before conducting the ILA.

3. Once the supporting documents have been received from the lender or the firm

acting in the transaction, the zoom call may now be scheduled. 

4. The advice is usually recorded, and you will be asked to show your ID at the

beginning of the call.

5. You will now be advised about the risks, obligations, and consequences associated

with your matter. 

6. Once finalised, the advisor will then send confirmation that the ILA has been

conducted and your case will be closed. 

Posted by Rosy

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