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Personal guarantee.


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I am buying my first property through an LTD.  

I need to include  a personal guarantee that requires me to be advised face to face by an independent solicitor.  

Can someone please recommend a solicitor who can do this cheaply? I am being quoted £400.   
Thank you

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  • 3 months later...

Hi.  I appreciate Nicolas' post dates back to May but I'm in the same situation.  I'm based in North London myself.

The best quote I've obtained is £395 plus VAT for a Independent Legal Advice (ILA) on a Precise Mortgages Personal Guarantee for my limited company BTL mortgage.

Can anyone recommend a cheaper option?! Preferably someone who can do it quickly as my purchase is ready to complete and I've only just been told of this requirement!

Thanks

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  • 8 months later...

Hi there - stumbled across this posting when googling around in my own search for ILA.  I really wanted to pay as little as possible and managed to get it sorted for £125 plus VAT at a site called ILA Connect who a property developer mate of mine mentioned to me, which turned out to be the cheapest option in the end I could find.  It only took about 10 minutes on a zoom call with the solicitor who was friendly and professional and she had clearly done these plenty of times.

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  • 4 weeks later...

Get as an individual? I am about to buy my first one too and put it in a SPV, I thought with the new BTL rules from April 2020 you cannot claim any tax relief on mortgage interest , but you can using an SPV. Surely there's a big saving there. If rental income is £600 per month and mortgage interest is £300, I assume you can claim the whole £300 as tax relief and pay corporation tax on the  remaining £300  (600 - 300) , providing its in a SPV. or have I got this wrong??  

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