Can I draw up my own legal document?

[Theland1]

I have lent my son and his partner the lump sum off my pension to help them buy a house. They promise to repay me in four years with a remortgage on the house. Can I draw up my own legally binding document stating that they owe me this money, or will I have to consult a solicitor? I have not worked for eleven months due to ill health and cannot afford solicitors fees.. Thank you.

[squarebear]

It would have been wiser to have them sign something BEFORE you lent them the money.

[joggerjayne]

Do it yourself.

Maybe try Googling "simple loan agreement specimen"

(I haven't tried it)

[redcrx]

Not sure if you can write your own legal contract,

best way will be to pay the legal fee out of the sum that you are lending them. Seeing as you are doing them a huge favour I cant see why they would object to the fee.

[dzug2]

You can always write your own legally binding document. There is nothing to say you HAVE to use a lawyer.

The problems arise when you come to enforce it and you haven't done it right.

[ChuckFickens]

Jaynes Idea is good, just make sure you get one from a UK based site to it's relevant to UK law.

http://www.lawdepot.c.../loan-agreement/?a=t&

[bushbaby_de]

You can draw it up yourself if you are confident in your ability to do so - but you will need the signing witnessed by an independent person.

[Theland1]

Thank you all