Start Date of the First Payment: ___________
End Date of the Last Payment: ____________
(Subject to any lump sum payments made by the Borrower)
Loan Amount: ___________
Interest Rate: ___________
Late Fee: _______________
Payment Method: ____________
During this agreement, the Borrower can make additional lump sum payments or pay the loan's outstanding balance to reduce interest or shorten the duration of the loan term. This should be without further bonus or penalty.
All payments should be made to the following account:
Bank Name: _____________
Name on Account: _________
Account No: _____________
Sort Code: ______________
Should the Borrower breach the payment clause of this agreement, the Lender can request that the loan's original amount be paid immediately.
Without limitation, the Borrower shall be liable for all expenditure and legal costs incurred while enforcing this agreement in the event of a default.
This agreement is legally binding. The terms of which can only be modified via written communication from both the Borrower and the Lender.