Our solicitors provide independent legal advice for bridging and development finance where lenders require confirmation that borrowers or directors fully understand the legal obligations and risks before entering into the agreement.
Bridging finance is a form of short-term lending, typically used to fund property purchases, development projects, or time-sensitive transactions. These loans are usually secured against property or business assets and are intended to be repaid within a defined period, often through refinancing or sale.
Because bridging and development finance arrangements often involve personal guarantees, legal charges, or company security, lenders usually require Independent Legal Advice (ILA) to ensure that the terms, risks, and potential liabilities are fully understood before the transaction proceeds.
Why Independent Legal Advice Is Required for Bridging & Development Finance
Lenders require Independent Legal Advice to ensure that individuals entering into bridging or development finance arrangements understand the legal and financial consequences of the agreement.
A solicitor must ensure that you:
- Understand the nature of the loan and repayment structure
- Are aware of any personal guarantees or security provided
- Understand the risks associated with short-term lending and exit strategies
- Are aware of the potential consequences if the loan is not repaid
- Are entering into the agreement freely and without pressure
This is particularly important where property or business assets are used as security, or where directors are assuming personal liability.
Once advice has been provided, the solicitor will issue the confirmation or certificate required by the lender before the transaction can proceed.
Our Bridging & Development Finance Independent Legal Advice Service
Our solicitors regularly advise individuals and company directors who are entering into bridging finance or development funding arrangements.
During your appointment, we will:
- Review the loan agreement and supporting documentation
- Explain the legal obligations, security, and potential risks
- Confirm your understanding of any personal liability or guarantees
- Answer any questions you may have before signing
Appointments are available in person at our office or remotely via secure video call (Zoom). Where transactions are urgent, we may also be able to offer same-day appointments to avoid delays.
Once the advice has been completed, we will issue the solicitor’s confirmation required by your lender or their solicitors.