Borrowing Money Contract Template UK

The Borrowing Money Contract Template UK is offered in multiple formats including PDF, Word, and Google Docs, featuring editable and printable samples for your convenience.

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Borrowing Money Contract Template UK

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Borrowing Money Contract Template UK

1. Borrower Information



2. Lender Information



3. Loan Amount

4. Interest Rate

5. Loan Term


6. Repayment Terms

7. Default Conditions

8. Prepayment Clause

9. Governing Law

10. Signatures and Agreement

11. Declaration and Signatures



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WORD

Examples

Borrowing Money Contract Template UK (1)
Between:
[Name of the Borrower]
[Borrower’s ID]
[Borrower’s Address]
[Borrower’s Phone]
[Borrower’s Email]
And:
[Name of the Lender]
[Lender’s ID]
[Lender’s Address]
[Lender’s Phone]
[Lender’s Email]
Introduction:
This contract outlines the borrowing terms under which [Name of the Borrower] borrows a sum of money from [Name of the Lender] commencing on [Start Date].
Clause 1: Loan Amount
The Lender agrees to lend the Borrower the principal sum of [Loan Amount], which the Borrower agrees to repay according to the terms outlined herein.
Clause 2: Interest Rate
The loan shall accrue interest at a rate of [Interest Rate]% per annum, calculated annually on the outstanding balance.
Clause 3: Repayment Schedule
The Borrower agrees to repay the loan in installments of [Installment Amount] every [Payment Frequency, e.g., month or quarter], starting from [First Payment Date].
Clause 4: Prepayment
The Borrower may prepay all or any part of the principal without penalty, subject to notifying the Lender at least [Notice Period, e.g., 14 days] in advance.
Clause 5: Default
In the event of a default, including failure to make timely payments, the Lender may demand immediate repayment of the outstanding balance along with any accrued interest.
Clause 6: Governing Law
This contract shall be governed by the laws of [Jurisdiction, e.g., England and Wales].
Signed in [City], [Date].
Sincerely,
[Signature of the Borrower]
[Name of the Borrower]
[Signature of the Lender]
[Name of the Lender]
Borrowing Money Contract Template UK (2)
Between:
[Name of the Borrower]
[Borrower’s ID]
[Borrower’s Address]
[Borrower’s Phone]
[Borrower’s Email]
And:
[Name of the Lender]
[Lender’s ID]
[Lender’s Address]
[Lender’s Phone]
[Lender’s Email]
Introduction:
This borrowing agreement sets forth the structure under which the Borrower shall receive funds from the Lender and outlines the responsibilities of both parties, effective as of [Start Date].
Clause 1: Loan Amount and Purpose
The Borrower will receive a loan of [Loan Amount] for the purpose of [Specify Purpose, e.g., purchasing a car, consolidating debt].
Clause 2: Interest Rate and Fees
The loan will bear interest at a rate of [Interest Rate]% per annum, along with any applicable fees which shall be disclosed prior to the loan Agreement.
Clause 3: Payment Terms
The Borrower agrees to repay the loan through scheduled payments of [Installment Amount] on a [Payment Frequency] basis, beginning on [First Payment Date].
Clause 4: Late Payment Fees
Should payments be missed, the Borrower agrees to pay a late fee of [Late Payment Fee] for each day the payment is overdue.
Clause 5: Governing Law and Jurisdiction
This Agreement shall be interpreted in accordance with the laws of [Jurisdiction, e.g., England and Wales], and both parties consent to the exclusive jurisdiction of the courts therein.
Signed in [City], [Date].
Sincerely,
[Signature of the Borrower]
[Name of the Borrower]
[Signature of the Lender]
[Name of the Lender]

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PDF – 1 PDF – 2

Borrowing Money Contract Template UK