Banks frequently require their Borrowers or Guarantors to take independent legal advice upon the meaning of security documents which they are being required to sign, for example, in relation to the purchase of shares, borrowing of new or further business funding and permitting personal assets to be used as security for business lending.
Other forms of security documents are regularly required by banks including charges over property and debentures.
We understand these transactions and know our way around lending and guarantee documents. Understanding how these documents work enables us to explain their full impact to you and to make clear the full extent of your risk.
If, after following our advice, you decide to sign the documents, banks then ask us to confirm that we have given you full and detailed advice and that you have understood your obligations and potential exposure.