At Myerson, we are highly experienced in acting for private individuals or companies in connection with the loan of money to third parties.
We act for private individuals or companies who are lending money, commonly to individuals they know personally, to assist them with the purchase of property.
You may have a very good relationship with the party you intend to loan money to, however, you must ensure that your money is secure and will be returned to you at an agreed point in the future.
Our commercial department has solicitors experienced in the preparation of loan agreements which provide for payment of interest, along with the capital sum or also on an interest-free basis. A loan agreement on its own will not secure the return of the money you have loaned, and this should be prepared alongside a private charge (mortgage) which our knowledgeable residential solicitors will prepare.
The private charge should be secured over the borrower’s property to protect your investment for the future. It is important that the title to the borrower's property is checked thoroughly to ensure that it does provide good security for the loan you are providing and our specialist team have years of experience in matters such as these.