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  1. #1

    What type of a solicitor should I consult about this?

    I'd like to receive an advice on a loan agreement I would like to sign with my mum to secure the loan she borrowed to me and my wife for a substantial deposit we paid for our house. I would also like to know how to secure her loan (apart from second charge, which might not be possible). What type of a solicitor should I consult about this? It's not conveyancing, it's not family law. Would it be commercial? (Anyone recommended in Southampton area maybe?)

    Many thanks in advance for any help!

  2. #2
    Cheap one. This is basic contract law so any small/solo practice will be able to handle it for you

  3. #3
    If its money lent to you for a house purchase that may be a problem. Lenders would want to see proof of the money being gifted rather than a loan. Check on the housing/mortgages board about this, I don't think you can do it.

  4. #4
    Your mother borrowed money to lend to you? Nothing at all you can do and as pointed out above if you didn't declare to the lender that the deposit was as a result of a loan you would find yourself in real trouble. With the mortgage company having an interest in the property I think they're informed if there's an additional charge secured on it.

  5. #5
    You lend money to someone. You borrow money from someone. They lend to you, you borrow from them. You lend to them, they borrow from you. And so on. Get the idea?!?

    You can't borrow to anyone. It's poor English, and frankly, it's gibberish. So, please re-write your question in proper English and you might get an answer. It'll also save you money at the solicitor's, as they try and work out (and great expense) what on earth you're talking about.

    Finally, you can put in place almost any agreement you like - enforcing it is another question entirely.


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