Hello all,

I've popped over form the 4Homes forum for some financial advice.

I am lending someone a sum of money - however I obviously want a contract drawn up(!) - can anybdy please tell me what needs to be included in such a contract? I need (and want!) to be fully covered!

Thanks in advance, Ben

Go see a solicitor!

Hmm, not the useful info I was after!

IMHO I don't think a solicitor would be interested as it is would be considered a relatively small amount of money to them - but still a lot to me!!

Any advice please...

Ok, so both names in full, state the terms and conditions, i.e. how much you are lending, what you want back and when.

Then just get both of you to sign it and also get a third party to witness it and also sign it.

The important get a 3rd party that is not impartal i.e not ur wife, maybe a work mate who knows both of u, that way it shows u didn't made it up.

also include term on repayment that clearly stated, upto u how u want collect payment, try to specific eg' repayment to commense in mar 05' don't put term that repayment whenever person has money.

the thing i'm try stress be very specific otherwise it might not be enforceable.

so what happened to trust?

quote:

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Originally posted by leprachaun in a fishmongers:
so what happened to trust?

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Trust? IMHO people, even friends are too unpredictable these days - I have worked hard for my money and I don't want it lost because I was too foolish to trust!

Hey - don't forget to add on a bit of interest for yourself too

quote:

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Originally posted by Halfway:
Hey - don't forget to add on a bit of interest for yourself too

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Too right! I am losing my yearly interest, which I have been saving all this year... 11.5 months saving just to give most away

So I'll definitely be getting that back, and as you say, some more for my troubles..

Cheers Ben

How much are you lending!