Template Loan Agreement Between Family Members UK

The Loan Agreement Template Between Family Members UK is offered in multiple formats, including PDF, Word, and Google Docs, featuring customizable and printable samples.

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Template Loan Agreement Between Family Members UK

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Loan Agreement Template Between Family Members UK

1. Lender Information


2. Borrower Information


3. Loan Details



4. Purpose of Loan

5. Repayment Schedule

6. Late Payment Consequences

7. Prepayment Terms

8. Default Conditions

9. Governing Law

10. Signatures and Agreement

11. Declaration and Signatures



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WORD

Examples

Loan Agreement Template Between Family Members UK (1)
Between:
[Name of the Lender]
[Lender’s ID]
[Lender’s Address]
[Lender’s Phone]
[Lender’s Email]
And:
[Name of the Borrower]
[Borrower’s ID]
[Borrower’s Address]
[Borrower’s Phone]
[Borrower’s Email]
Introduction:
This agreement outlines the terms and conditions under which the Lender agrees to loan a certain sum to the Borrower, effective from [Start Date].
Clause 1: Loan Amount
The Lender agrees to loan the Borrower the sum of [Loan Amount in words and figures].
Clause 2: Purpose of the Loan
The Borrower will use the loan exclusively for [Specify Purpose, e.g., home improvement, education expenses].
Clause 3: Interest Rate
The loan shall bear interest at a rate of [Interest Rate] per annum, calculated yearly.
Clause 4: Repayment Schedule
The Borrower agrees to repay the loan in [Number of Payments] installments, commencing on [First Payment Date] and thereafter on [Payment Frequency, e.g., monthly].
Clause 5: Prepayment Clause
The Borrower may prepay the loan in full or in part at any time without penalty.
Clause 6: Default Conditions
If the Borrower fails to meet repayment obligations, the loan shall be considered in default, and the Lender may demand immediate repayment of the outstanding principal and interest.
Clause 7: Governing Law
This agreement shall be governed by the laws of [Jurisdiction, e.g., England and Wales].
Signed in [City], [Date].
Sincerely,
[Signature of the Lender]
[Name of the Lender]
[Signature of the Borrower]
[Name of the Borrower]
Loan Agreement Template Between Family Members UK (2)
Between:
[Name of the Lender]
[Lender’s ID]
[Lender’s Address]
[Lender’s Phone]
[Lender’s Email]
And:
[Name of the Borrower]
[Borrower’s ID]
[Borrower’s Address]
[Borrower’s Phone]
[Borrower’s Email]
Introduction:
This agreement establishes the terms for the loan provided by the Lender to the Borrower with the intent to ensure clear understanding and repayment obligations, effective from [Start Date].
Clause 1: Loan Amount
The total amount loaned by the Lender to the Borrower is [Loan Amount in words and figures].
Clause 2: Intended Use
The Borrower shall apply the loaned amount solely for [Specify Purpose, e.g., family support, emergency expenses].
Clause 3: Interest Terms
The interest applicable to the loan shall be [Interest Rate] per annum, calculated on a simple interest basis.
Clause 4: Repayment Terms
The Borrower agrees to repay the loan in [Number of Payments] equal installments, starting from [First Payment Date] and continuing every [Payment Frequency, e.g., monthly].
Clause 5: No Penalty for Early Payment
The Borrower may repay the loan before the due date without incurring any extra charges.
Clause 6: Conditions for Default
In the event of a default in payment, the Lender reserves the right to demand repayment of the entire outstanding amount immediately.
Clause 7: Jurisdiction
This agreement shall be subject to the laws of [Jurisdiction, e.g., England and Wales].
Signed in [City], [Date].
Sincerely,
[Signature of the Lender]
[Name of the Lender]
[Signature of the Borrower]
[Name of the Borrower]

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PDF – 1 PDF – 2

Template Loan Agreement Between Family Members UK