Yes. You need to appoint a lawyer to draw up your loan security documentation. Normally, the bank or financial institution will provide a panel of lawyers who are familiar with their documentation requirements for you to choose from.
If you prefer to engage your own lawyer, you should discuss this with your financial institution. Unless your own lawyer is the bank or financial institution panel, else bank or financial institution wouldn't allow them to execute the loan security documentation. Some bank or financial institution will allow the non-panel lawyer to execute the loan security documentation on ad-hoc basis.
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