Do I need independent legal advice (ILA)?

Generation Home requires income and deposit boosters to obtain ILA. This is to ensure that they understand their legal obligations as a booster, the risks involved, and their rights regarding the transaction. For this reason, it is important you receive advice from a solicitor independent of the purchase.

Who can provide this advice?

It is important that this advice is received by a solicitor, who is not involved in the purchase transaction. You are able to use the same firm that is doing your conveyancing, but it must be a different solicitor from that firm who provides you ILA.

They must also be registered with the Law Society.

Does Generation Home have a panel solicitor?

Generation Home does have a panel solicitor you can use for your ILA. However, you can choose to use a different solicitor if you wish.

Generation Home will cover the cost of your ILA if you opt to use our partner solicitor. Alternatively, if you choose to use your own solicitor, we will cover the cost of up to £300.

Reach out to your mortgage advisor and let them know your solicitor preferences for ILA.

If you have any questions regarding this, please feel free to ask!

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