Document background
The Loan Agreement With Guarantor Free Template is designed for use in England and Wales when establishing a formal lending arrangement that requires additional security through a guarantor. This document is particularly useful for situations where a borrower's creditworthiness alone may not be sufficient to secure a loan, requiring a third party to guarantee the debt. It complies with UK consumer credit legislation and financial regulations, including the Consumer Credit Act 1974 and Financial Services and Markets Act 2000. The agreement covers essential elements such as loan amount, interest rates, repayment terms, guarantor obligations, and default provisions, while ensuring all parties' rights are protected under English and Welsh law.
