Solicitors Advice Certificate

Solicitors advice certificate - Arrow White

Solicitors Advice Certificate

Solicitor’s advice certificates are becoming commonplace, but there is still some confusion amongst people as to what they are, especially if there has not been a need for one previously.

What is a solicitor’s advice certificate?

A solicitor’s advice certificate, which may also be referred to as an:

  • Independent Legal Advice – although this is an umbrella term that can cover many things other than a solicitors advice certificate. Solicitor’s Advice Certificates can act as evidence that independent legal advice has been obtained;
  • Independent Solicitor’s Certificate;
  • Acknowledgment of Legal Advice by Proposed Guarantor;
  • Guarantor Advice Certificate; or
  • Legal Advice Certificate.

The reason it can vary is that each state has differing, but mostly analogous, laws governing solicitors’ advice, and these variations are reflected in the titles of the certificates.

It is a document that declares that a person has received independent legal advice on a specific matter.  They are increasingly engaged in loans and many banks now impose this as a criterion before settling or drawing down the loan. It is issued by a solicitor who has thoroughly reviewed the relevant documents and information and has provided their professional opinion on the risks or benefits of same. This certificate can be used as evidence in legal proceedings or to provide assurance to parties involved in a transaction.

When do I need a solicitor’s certificate?

There are many situations where a solicitor’s advice certificate may be necessary or helpful, such as:

  • When purchasing property, a solicitor’s advice certificate can provide assurance to the lender that the buyer has received appropriate legal advice before entering into the transaction.
  • When applying for a loan or becoming a guarantor to a loan, banks will often require that you obtain independent legal advice in the form of a solicitor’s certificate to ensure that you have received appropriate legal advice on the terms and obligations of the loan.
  • When entering into a commercial contract, a solicitor’s advice certificate can confirm that the parties involved have been provided with appropriate legal advice and have fully understood the terms of the contract.
  • When making a financial decision, such as investing in a business or property, a solicitor’s advice certificate can provide assurance that the decision has been made with full understanding of the risks and legal implications and may be sought.

Implications of Advice

Recently, there has been an increase in interstate property purchases, and depending on the lender, they may request advice to be undertaken in their respective state. This creates a need for new technologies as there are practical implications of physically attending another state for a certificate.

Logic would dictate that you would visit the state you are purchasing or selling property in at some point, though this isn’t the case for every homeowner especially with investment properties. Moreover, settlement terms in Queensland case be 30 days, meaning finance needs to be organised very quickly, and borrowers may not have enough time to arrange flights for one legal meeting in another state in conjunction with organising their other obligations including insurance.

Can a solicitor’s advice certificate be provided remotely?

Some clients may be remote or interstate, but still require exceptional legal advice. That’s where we can make a difference. By utilising video conferencing, remote VOI and electronic execution, we are able to maintain a high calibre of work where our clients don’t feel like they are missing out, but can also satisfy lender requirements from the comfort of their home or work.

Why choose Arrow White for your solicitor’s advice certificate?

At Arrow White, we have a team of highly skilled and knowledgeable solicitors who are dedicated to providing clear and concise legal advice. We have extensive experience in providing solicitor’s advice certificates for a range of situations and are committed to meeting the unique needs of each client. Our focus on client satisfaction has made us a trusted source for legal advice and services. We work closely with our clients to ensure that they fully understand the advice provided in the certificate and that their needs and concerns are taken into account. Contact us today to discuss your legal needs and to find out how we can assist you with a solicitor’s advice certificate. With Arrow White, you can be confident that you are receiving expert legal advice that is tailored to your specific situation.

Disclaimer: This publication is intended for general and informative use only and is not to be relied upon as professional financial or legal advice.

Contact our team today for a free quote by clicking the link here or calling us on 1300 277 699.

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