What is a Family Loan Agreement?
Edited
A family loan agreement is an agreement to repay a loan made between a borrower and a lender related by blood or marriage. There may be two versions “secured” and “unsecured” and then the detail of the loan would be inserted. A solicitor has to be very clear that they are either acting for the borrower only or a lender only. If a solicitor drafts a loan agreement, they must clearly state that they are advising the borrower or lender.
The information shared on this site is meant to be helpful, but you should always speak to a solicitor directly as additional details about your agreement or situation may change the answer.
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