Loan agreements

If you're borrowing or lending money, particularly where family or friends are involved, it always makes sense to formalise your agreement. A properly drafted agreement will protect your rights and help prevent a disagreement or relationship breakdown.

Frequently asked questions

Matters to consider when you are lending money

  • The loan amount (principal)
  • Manner of repayment of the principal
  • Interest charges
  • Payment of interest
  • Consequences of the borrower’s default
  • Security for the borrower’s promises such as a mortgage, charge or guarantee

I am guaranteeing a loan and have been asked to obtain legal advice.

If you're borrowing money or guaranteeing a loan and need independent legal advice on loan documents prepared by a bank or other lender, we can help. Visit Solicitor's guarantee certificates.

Acknowledgement of debt$880

For very straightforward matters, a simple Deed of Acknowledgment of Debt will formalise the obligation to repay a loan. Book a consultation to get started.

If required, security for the repayment of the loan can be added, for example in the form of a charge supported by a caveat over the borrower's real estate.

Our fixed fee includes:

  • taking your instructions at a consultation in person or by phone;
  • preparing a simple Deed of Acknowledgement of Debt and, where applicable, caveat over the borrower’s real estate;
  • arranging for the documents to be executed and, where applicable, lodged at Landgate.

Our fixed fee excludes:

  • Landgate caveat registration fee ($165.80) and record of certificate of title search ($24.85) where applicable.

Loan agreement

$2,200

In most cases it is desirable to record the transaction in a comprehensive loan agreement and security documents in the form of a mortgage or caveat over the borrower's real estate. Book a consultation to get started.

Our fixed fee includes:

  • taking your instructions at a consultation in person or by phone;
  • preparing a loan agreement and, where applicable, mortgage or caveat over the borrower’s real estate;
  • arranging for the documents to be executed and, where applicable, lodged at Landgate.

Our fixed fee excludes:

  • Landgate mortgage/caveat registration fee ($165.80) and record of certificate of title search ($24.85); and
  • preparation of other documents further securing the loan; for example, goods mortgages, company charges or guarantees.

Initial consultation$198 / 385

If you’re not sure where you stand or what course of action is best, talk to our team. Book a consultation to discuss your requirements. We will give you a written quote for any further services.

Recovering a debt$198 / 385

If you would like to recover a debt owed to you book a consultation to discuss your requirements. We will give you a written quote for any further services.

Michael Hodgkins

Michael Hodgkins

9220 4431

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