Family and relationships question:
My friend would like to borrow £6000 from me and returned the full amount by end of Nov. because she is remortgaging her house. I am concerned it's over £5000 and therefore can't be dealt with in small claim court if she failed to return the money. I also need a solicitor in Canterbuty to draw up and witness a IOU for her to sign. What is my legal position if I lend her £6000 ?
Responses:
Lynn Murray's response
Although you could get her to sign and IOU you would effectively be an unsecured creditor and if she were to become bankrupt you would probably lose your money. It would be better to take a charge on her property. This could be done very simply and cheaply.
I could do this for you. It doesn't matter that I am not in Canterbury. Most of our work is done by email.
Do give me a call if you would like to discuss this.
Kind regards
Lynn
01483 266021
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