Document background
The Family Mortgage Agreement is designed for situations where family members wish to provide financial assistance for property purchase through a formal lending arrangement. This document, governed by English and Welsh law, combines elements of traditional mortgage agreements with specific provisions for family lending relationships. It includes crucial details about the loan amount, interest rates, repayment terms, and security arrangements, while ensuring compliance with the Law of Property Act 1925 and relevant financial regulations. The agreement is particularly valuable for families seeking to help younger members onto the property ladder while protecting all parties' interests through formal legal documentation.
