At a Glance
Digital ILA consultations have many benefits - they make the process of getting legal advice faster and more convenient, replacing the need for traditional in-person meetings. This greatly helps borrowers meet lender requirements quickly without the hassle of dealing with paperwork. Video-based ILA appointments are recognised by lenders when carried out by SRA-regulated solicitors, ensuring full validity. With specialist providers like iLA, clients receive expert property and finance advice from anywhere, often in under an hour.
Modernising Independent Legal Advice Through Digital Solutions
Technological innovations have been playing a transformative role across many industries, and the legal sector is no exception. From employee tribunal claims to registering a lasting power of attorney, digital legal services have made the justice system more accessible and transparent.
This has been particularly useful in receiving independent legal advice (ILA). Traditional in-person meetings with solicitors have always proven to be costlier and time-consuming. This was largely ineffective when it came to meeting urgent ILA requirements, potentially delaying property deals and financial transactions to the detriment of the borrower.
However, with the remarkable benefits of digital ILA consultations, this has changed significantly. You can now book online consultations from the comfort of your home, eliminating the need for an in-person appointment. What’s more, with fixed fees, you’re assured of complete transparency in pricing plans, allowing you to choose something that fits your urgency, requirements and budget.
In this article, we’ll be discussing some of the top benefits of ILA and how they can help you receive clarity and confidence.
What Are Digital ILA Consultations
In its simplest form, a digital ILA consultation shares the same core purpose as an in-person solicitor appointment. It informs a client of their legal and financial rights and obligations.
Receiving ILA is a mandatory lender requirement which confirms that the client is fully aware of the risks carried in a legal document, such as personal guarantees or legal charges.
The single most defining difference and benefit of a digital ILA consultation and an in-person solicitor appointment is the medium. Digital ILA consultations are carried out over video platforms such as Zoom and Google Meet to facilitate remote ILA services. These consultations share the same weight as an in-person appointment, ensuring legal compliance and meeting lender requirements effectively.
The Solicitors Regulation Authority (SRA) clarified its guidelines in 2019, allowing solicitors greater flexibility in delivering ILA services by regulating and authorising remote ILA consultations. This was met with widespread adoption and acceptance by lenders, fuelled by the limitations people faced in receiving ILA during the pandemic.
Key Ways Digital ILA Consultations Can Help
One of the primary benefits of a digital ILA consultation is a streamlined process, affording you convenience, accessibility and speed compared to standard ILA processes. This allows you to receive independent legal advice quickly from any location, especially when time is of the essence.
Here are 5 key ILA benefits that help ease the process
1. Improved Accessibility
If you’re living in an area with limited access to solicitors or are temporarily away at the time of your ILA request, you could benefit from a digital ILA consultation. This could also be helpful if you’re unable to travel due to a disability or have difficulty in finding time for an in-person solicitor appointment. Digital ILA consultations can be scheduled at your convenience from wherever you are, giving you complete access to services with a simple online booking.
2. Minimises Delays
Property and finance deals can move fast, which in turn, requires speedy ILA. So, if you’re in a hurry and need independent legal advice urgently, a digital ILA consultation might be the right solution for you.
This is because most digital ILA processes are streamlined for efficiency, where appointments can be taken within a few hours of booking. It allows you to meet lender criteria quickly, enabling speedy disbursement of funds and minimising delay on key deals.
3. No Paperwork
One of the biggest ILA benefits is that it removes the hassle of dealing with paperwork. You’ll be asked to send your documents in approved formats like PDF or JPG using a document upload link sent by your ILA provider. This is highly encrypted and secure, so you can share sensitive information with full confidence.
4. Fixed Pricing Plans
Another benefit of a digital ILA consultation is that it comes with fixed pricing plans to ensure transparency. While traditional in-person solicitor consultations are a great option, pricing can vary widely based on reputation and hourly rates. With fixed fees, rates are considered to be more predictable and cost-effective.
5. Lender Acceptance
Lenders consider digital ILA consultations to be valid and generally accept these as long as they're carried out by an SRA-regulated solicitor. Many ILA providers also work closely with reputable lenders to allow for a quick turnaround, keeping them updated through the entire ILA process.
At iLA, we offer digital ILA consultations with all these benefits and much more. Our award-winning solicitors specialise in property and finance, bringing you quick, expert and professional independent legal advice.
Whether you need ILA on debentures, personal guarantees, bridging and development or gifting and inheritance, you can trust us to provide you with the best legally compliant ILA.
Choose iLA for Digital Independent Legal Advice
If you’re looking for swift, tailored advice, backed by expertise and experience, iLA is your best choice. We’re the UK’s leading independent legal advice (ILA) providers, offering specialist advice in property and finance areas. From development finance and personal guarantees to mortgages and the transfer of equity, we’ve got you covered.
We offer you all the benefits of digital ILA consultation combined with our extensive expertise, making our independent legal advice convenient and easy to access. You can easily book an appointment with us and arrange for an online video call consultation from the comfort of your office or home. We offer a no-fuss, fully transparent pricing model based on your urgency, which is disclosed to you upfront.
Ready to receive clarity and protect yourself from unexpected liability? Call us on 020 4571 9207 today.
The information in this blog is general in nature. It is not intended as legal or financial advice. You should always obtain professional advice before making decisions based on your own circumstances.