Solicitor’s Certificate of Advice

What is a Solicitors Certificate?

A Solicitor’s Certificate is a certificate of Independent Legal Advice to a borrower or guarantor in relation to a proposed loan. In providing legal advice, a Solicitors Certificate confirms to a lender (a bank or financial institution) that a borrower or guarantor has received independent legal advice and understands the potential liabilities and risks involved in the proposed loan agreement.

What is the process for having a Solicitors Certificate signed by Barnard Lawyers?

For us to provide you with informed advice we need copies of the proposed loan agreement. These documents can be delivered to our office in hardcopy, or they can be emailed in soft copy. It is important to ensure all documents are provided so that there is no delay in receiving the advice.

We require two business days before our meeting to review the documents and prepare a written letter of advice.

The meeting will be conducted in person at our office. Any person receiving advice is required to bring their identification documents so that the solicitor providing the advice can verify their identity. Before the meeting we will discuss which identity documents you need to bring with you.

If you are a couple, then we must speak to you both independently to ensure you are both willing to enter into the loan agreement.

How long will it take to receive a Solicitors Certificate?

We require at least two business days to review the documents before the advice can be provided.

Does a Solicitors Certificate provide financial advice?

No, a solicitor can only provide legal advice and cannot provide financial advice. A Solicitors Certificate does not provide advice on the viability of a transaction in which the borrower is undertaking, cannot comment on the borrower’s ability to make the required payments to the lender, or a guarantor’s ability to make payment to the lender. We recommend always seeking independent financial advice before signing loan agreements and security documents.