Independent legal advice on a loan agreement
Whether you are borrowing from a private lender, lending to family or signing a business loan, independent legal advice helps you understand the terms before you commit. A solicitor explains your obligations and, where needed, signs a certificate for the lender.
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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 loan agreement?
A loan agreement sets out the terms of borrowing: the amount, interest, repayment dates, any security and what happens on default. Loan agreements are used for private and family loans, business lending and loans between companies and their directors.
Some loans are secured on property or backed by guarantees, which increases what is at stake if repayments are missed.
Why take independent legal advice on a loan agreement?
Some lenders, particularly private and specialist lenders, require borrowers or guarantors to take independent legal advice so that the agreement can’t later be challenged on the basis that it wasn’t understood. Even where it isn’t required, advice before signing can help you avoid unexpected obligations.
What your solicitor will explain
Repayment and interest
What you will pay, when, and any default interest or fees.
Security
Whether the loan is secured on property or backed by guarantees.
Default
What counts as a default and what the lender can do.
Early repayment
Whether you can repay early, and at what cost.
Completion deadline close? Same-day appointments available.
Documents you'll need
- The loan agreement
- Any security documents or guarantees
- The lender's ILA certificate template, if there is 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.
I'm lending money to family. Should I get advice?
It is often sensible for both sides to understand the terms, and for the agreement to be clearly documented. Your solicitor can explain how to protect your position.
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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