Independent legal advice for a debenture
A debenture gives a lender security over a company's assets. Where directors, shareholders or a connected company are asked to sign, the lender may require independent legal advice first. A solicitor explains what the debenture covers and signs the certificate the lender needs.
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- 70+ lenders
- SRA-regulated solicitors
- Video, or in person in London
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Free 10-minute consultation
ILA from £140 + VAT per person · fee confirmed on the call
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- ★ 4.9 · 282 Google reviews
- 70+ lenders
- SRA-regulated solicitors
- Video, or in person in London
What is a debenture?
A debenture is a security document granted by a company, usually containing fixed charges over specific assets, such as property or equipment, and a floating charge over the rest of its assets. If the company defaults, the lender may be able to appoint an administrator or receiver.
Debentures are often given alongside personal guarantees, and group companies are sometimes asked to grant cross-guarantees and debentures for each other’s borrowing.
Why does my lender require independent legal advice?
Lenders sometimes ask directors, shareholders or connected parties to take independent advice before a debenture is signed, particularly where it supports another company’s borrowing or is linked to personal guarantees. The advice helps show the signatories understood the security and the consequences of default.
What your solicitor will explain
What is charged
Which assets are covered by fixed and floating charges.
On default
The lender's powers, including appointing an administrator or receiver.
Restrictions
Limits on selling assets or granting other security without consent.
Linked documents
How the debenture interacts with any guarantees you are giving.
Completion deadline close? Same-day appointments available.
Documents you'll need
- The debenture
- The facility letter and any related guarantees
- Your lender's ILA certificate template, if it has one
- Photo ID (passport or driving licence)
- Proof of address dated within the last three months
How it works
- 1
Book a free consultation
Pick a time above. It takes under a minute.
- 2
Speak to your solicitor
An SRA-regulated solicitor explains the risks in plain English, by video or in person in London.
- 3
Certificate sent to your lender
Your signed ILA certificate and documents are dispatched, usually the same day.
Frequently asked questions
Can I get the advice online?
Yes. Most lenders accept advice given by video call, so you can usually be advised from home. If your lender insists on a face-to-face meeting, that can be arranged in London instead.
Is there an ILA solicitor near me?
You don't need one nearby. Our SRA-regulated solicitors advise by video call wherever you are in England and Wales, often the same day, and video advice is accepted in most cases. If you need to meet face to face, appointments are available at the solicitor's office in London.
Am I personally liable under a debenture?
A debenture is given by the company, not by you personally. But directors are often asked to sign personal guarantees at the same time, and your solicitor will explain both.
How quickly can I get my certificate?
Often the same day. Once your solicitor has your documents and has advised you, the signed certificate is usually sent to your lender, broker or conveyancer the same day.
How much does it cost?
Independent legal advice starts from {price} per person. Your solicitor confirms the fixed fee on your free consultation, before any work starts.
Reviewed by Saba Rehman, Solicitor
SRA-regulated · Last reviewed 9 October 2026
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