Additional loan agreement 

Use this contract: 

• When you have taken out one or more loan contracts and the borrower needs an additional loan.
• If you wish to grant additional funds under the same conditions.
• If the additional amount is to be repaid on a specific date or at the same time as the existing loan.

£20/document

TRY BEFORE BUY

Jurisdiction: England and Wales

Every contract has a 100% legal guarantee. No further checks are needed.

 

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Protect yourself legally as a lender with the following options: 

• Confirmation from the borrower that the old loan has been duly granted and will be repaid without reservation. 
• Stipulation of the conditions precedent to the granting of the additional amount and request for the provision of security on a preliminary basis. 
• Interest on arrears and the obligation to cover any additional damage in the event of late repayment. 
• Obligation to regularly confirm declarations regarding the borrower’s solvency, financial situation and legal status. 
• Immediate termination in the event of the borrower’s bankruptcy or insolvency. 

Safeguard your interests as a borrower by using the following clauses: 

• Possibility of early, total or partial repayment. 
• Flexible calculation of simple interest with the option of a single or regular payment. 
• Option to specify a single interest rate that does not depend on the term of the loan. 
• Option to accumulate compound interest at different periods.