I've been offered a loan by my lender but that have asked for security based on my existing assets. I'm not terribly keen on doing this but I need the money, what should I do?

In these circumstances it is imperative that you immediately seek independent legal advice.

Entering into a Personal Guarantee or Legal Charge of any description is an onerous obligation and one that is not to be taken lightly. It is important that you seek advice as to your obligations under the Charge or Personal Guarantee to prevent the security being enforced together with the extent of your liability and the circumstances upon which your lender can take enforcement proceedings against you.

We can assist with providing you with independent legal advice in this regard and more specifically whether there are any alternatives available in the light of the circumstances in which the money is being lent to you.