Loan agreement and how to put an equitable charge on a house as security?

[r&b]

Hi, long time since I have been on so hope I have put this in the correct place.

 

I am taking two large loans from a friend and family, to clear some business issues, both of which need to be secured on my property.

 

 

Lawyers are asking ridiculous sums for agreements and posting the charges.

A full legal charge appears to be too complicated and time consuming for my needs so I am proposing equitable charges which should suffice.

 

My question is,

what forms do I need to submit to the land registry and can this be backed by a simple loan agreement between lender and borrower?

 

Would there be templates on the site for loan agreement and charge as I cannot seem to find them myself? The loan agreement I can find online if necessary, it is the charge details that I do not have.

 

Many thanks for any input.

r

[uptoeyeballs]

Hi r&b,

 

When I was on the verge of going bancrupt a friend of mine offered to pay my HMRC bill and although I was certain I could pay back, I offered him a charge over my property in case something went wrong outside of my control!

 

It was quite simple for us. I found which Land Registry Office responsible for my property and gave them a ring. They were really helpful and it can be done on standard forms for a small payment. There is "deed" that needs to be witnessed, the loan amount and payments go on there too.

 

You'll need the usual ID from both parties too. We both went to the Land Registry office with the forms etc, just so they could approve our ID rather than a solicitor and it wasn't far away.

 

Post back if you don't get the help you need and I'll dig out what I have.

 

uteb.