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Private Loan Agreement

Although buying a property with a mortgage from a bank or building society is the usual way to fund a purchase sometimes not all the finance can be obtained in this way.

You may find that you need to obtain some money to help fund the deposit or part of the purchase price by borrowing some money from family or friends. Your family might want to secure their loan to you by way of a second charge on your property.

If you are taking out a mortgage and also borrowing some money from elsewhere you will need to:

  • tell the lending institution
  • if necessary obtain the lender’s consent to register a second charge

At Hart Brown our specialists can help with:

  • the loan arrangements between you and your family or friends
  • explain the implication of lending and borrowing money
  • draft declarations of trust if appropriate

We will help you cut through the jargon and make the process easily understood.

To speak to someone who can help with a private loan agreement call, email or request a call back from one of our specialist lawyers.

Who to contact

David Knapp

David Knapp
Partner, Head of Residential Property
01483 887772
Email
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