Advice – Personal Guarantee
Often, directors or shareholders of a company are called upon by a bank or other lender to personally guarantee the liabilities of their companies under a loan or mortgage arrangement.
Estimates and Quotations
It is common for the bank to request directors to enter into personal guarantees as an added layer of security against the Company’s borrowings. Where a personal guarantee has been entered in to, a bank can demand full repayment from the guarantor in the event of default by the company.
For a director or shareholder to provide a personal guarantee, a bank or lender will require the guarantor to jump through a number of specified hoops in order to be fully satisfied that the deed of personal guarantee has been validly executed and cannot later be challenged should the guarantor be called upon in the event of default.
Our fee depends on the complexity of work but most of the case we do on fixed fee and estimate.
Price List
| Service | Price (including VAT) |
| Advice – Personal Guarantee | £350.00 |
Disbursements
| Disbursement/Service | Amount |
| TBC | TBC |
Key Stages and Timescales
It is now a common requirement for banks to request directors of a company to enter into a personal guarantee. We advise clients about the potential implications and liabilities associated with entering into a personal guarantee, by undertaking the following:
| Key Stage | Typical Timeline (Weeks) |
|
A review of the legal charge and deed of personal guarantee Providing a written report to you, advising you of the terms of the guarantee A 15-minute face to face interview confirming you understand the implications and liabilities under the guarantee Completion of a solicitor’s certificate that legal advice has been |
TBC |
Our Professionals
Sushil Gaikwad
Solicitor – B.Sc., L.L.B.
| Areas of Law Practiced | Time Spent | Experience |
| General Practice | 100 | TBC |
Radhika Bansal
Solicitor – L.L.M.
| Areas of Law Practiced | Time Spent | Experience |
| General Practice | 100 | TBC |