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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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I would like a contract drawn up between myself and a friend.

Resolved Question:

I would like a contract drawn up between myself and a friend. He is lending me £3000 over a 12 month period at 10% simple interest, so my monthly repayments will be £3300/12months=£275. The money will be used for installing a shower in a bedsit and buying furniture.
Submitted: 3 years ago.
Category: Law
Expert:  UKSolicitorJA replied 3 years ago.
Hello,

You may copy and paste as follows

Date of loan agreement

Names and addresses of both you ( the borrower) and your friend ( lender)

The parties hereby agree as follows

The lender shall lend the borrower a sum of £3000 cash (loan) which shall be repayable in 12 equal monthly instalments of £275 which includes interest at the rate of 10% per annum.

The sole purpose of the loan is to enable the buyer to purchase furniture for and instal a shower at the property address xyz

Your signature


Lenders signature

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