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Loan Declaration Form Template for England and Wales

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Key Requirements PROMPT example:

Loan Declaration Form

"I need a Loan Declaration Form for a £50,000 business loan from ABC Bank to my technology startup company, with the loan to be secured against company assets and including a personal guarantee from two company directors."

Document background
The Loan Declaration Form is a crucial document in England and Wales' lending framework, designed to protect both lenders and borrowers by clearly documenting loan terms and declarations. This document is typically used when establishing new loans, refinancing existing debt, or modifying loan terms. It ensures compliance with UK financial regulations, including the Consumer Credit Act 1974 and Financial Services and Markets Act 2000. The form captures essential information about the loan, borrower details, and formal declarations regarding the accuracy of information provided, serving as both a legal record and regulatory compliance document.
Suggested Sections

1. Borrower Information: Full legal name, address, contact details, and any relevant identification numbers of the borrower

2. Loan Details: Specific amount being borrowed, purpose of the loan, and loan reference number

3. Repayment Terms: Details of repayment schedule, interest rate, payment method and frequency

4. Declaration Statement: Formal statement confirming that all information provided is true and accurate

5. Acknowledgment: Confirmation that borrower understands their obligations and consequences of false declarations

6. Signature Block: Space for borrower's signature, date, and witness details if required

Optional Sections

1. Security Details: Information about any collateral or security being provided for secured loans

2. Guarantor Information: Details of any guarantors including their personal information and declaration

3. Co-Borrower Details: Information and declaration for any additional borrowers on the loan

4. Employment Details: Current employment status and history when required for income verification

Suggested Schedules

1. Schedule A - Identity Documents: List of acceptable identification documents provided by the borrower

2. Schedule B - Income Verification: Details of income documents provided including payslips, tax returns, or bank statements

3. Schedule C - Asset Documentation: Details of assets and their valuation for secured loans

4. Schedule D - Terms and Conditions: Detailed terms and conditions of the loan including all regulatory disclosures

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions


































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Relevant Industries
Relevant Teams
Relevant Roles
Industries

Consumer Credit Act 1974: Primary legislation regulating consumer credit agreements, setting requirements for documentation and disclosure, and defining rights and obligations of lenders and borrowers

Consumer Rights Act 2015: Legislation ensuring fairness in contract terms, providing protection against unfair terms and conditions, and requiring transparency in documentation

Financial Services and Markets Act 2000: Regulatory framework for financial services and markets, setting requirements for authorized lenders and establishing overall regulatory structure

Financial Services Act 2021: Updated financial services regulations including post-Brexit provisions and modifications to existing regulatory frameworks

Data Protection Act 2018 and UK GDPR: Legislation governing the handling of personal information, setting requirements for data collection and processing, and ensuring privacy rights

Money Laundering Regulations 2017: Regulations establishing requirements for identity verification, due diligence procedures, and record-keeping obligations

Equality Act 2010: Legislation preventing discrimination in lending and ensuring fair treatment of borrowers

Limitation Act 1980: Act setting time limits for legal actions and affecting enforcement of loan agreements

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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