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Loan agreement between family or friends (Northern Ireland)
Northern Ireland · in English
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13 questions · about 5 min
Made for use in Northern Ireland
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For two private individuals in Northern Ireland — relatives, friends, a couple — lending money to each other, with or without interest. The agreement records the amount and when it was paid over, the interest if any, the final repayment date or monthly instalments, and what happens if a payment is missed, under the law of Northern Ireland. A loan between private people, not made in the course of a business, needs no FCA authorisation, falls outside most of the Consumer Credit Act 1974 and needs no registration or stamp duty. Both sign it, and each keeps a signed copy.
- Made for use in Northern Ireland
- Last updated October 29, 2026
- Document in English
Where a UK document reproduces the words of legislation or of a government publication — UK, Scottish or Northern Irish — it contains public sector information licensed under the Open Government Licence v3.0.
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When to use this document
- You are lending money to your brother in Northern Ireland and want it in writing.
- A friend is borrowing money for a car and will pay you back every month.
- Your parents are helping with a house deposit as a loan, not a gift.
- You want a simple signed loan agreement between family or friends.
What you fill in
The details the document asks for.
- Date
- Lender
- Lender's address
- Town or city
- Borrower
- Borrower's address
- Amount
- Date of payment
- Annual interest rate (0% if the loan is interest-free)
- Repayment date
- Lender's bank account
- Amount of each monthly instalment
- Day of payment
Common questions
- Is a family loan in Northern Ireland valid without a written agreement?
- Yes, a loan can be agreed by word of mouth, but a signed agreement is the best evidence of how much was lent, that it was a loan and not a gift, and when it must be repaid; without one, a court has to work it out from messages and bank transfers. The lender has six years from when repayment fell due to sue (Article 4 of the Limitation (Northern Ireland) Order 1989).
- Does lending money privately bring any tax or paperwork?
- No stamp duty and no registration apply to a private loan agreement. Interest the lender receives is the lender's taxable income, which the personal savings allowance may cover or which may need reporting to HMRC. A loan to a family member that is later written off can count as a gift for inheritance tax.
- What can a Northern Ireland lender do if the repayments stop?
- Under clause 5, give the borrower written notice that the whole balance is due. If it is still not paid, send a final letter giving 14 days, then make a small claim in the county court for up to £5,000, or bring proceedings in court for more. If the borrower then does not pay, the Enforcement of Judgments Office enforces the judgment on the lender's application.
How you can sign this document
- Print it and sign by hand. The signature lines in the document are left blank on purpose — sign on them in ink.
- Sign it yourself with a qualified electronic signature. If you already hold a QES — Evrotrust, B-Trust, StampIT, ZealiD or any qualified provider on the EU Trusted List, on a card, a USB token, in a mobile app or in the cloud — our signing guide explains step by step how to sign this exact file without invalidating it. Step-by-step help, and a way to check it worked
DocMuse sells documents, not legal advice. Acceptance always depends on the recipient's rules and your local law.
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