Urgent Legal Advice Sought About An Informal Loan Agreement Which Is Now Is Turning Into A First Charge Over My Home That I Will Not Accept
Location: England.
Any advice appreciated. Please be kind.
My now ex-partner lent me a substantial sum of money over the course of our 3½-year relationship. I never asked for the money and often resisted accepting it, but he repeatedly insisted on helping me financially and transferred funds to me over time.
I have always acknowledged the debt and have always maintained that I will repay it.
In March this year, I signed what was described as an "informal agreement" which included wording stating that, if our relationship ended, his lawyers would authenticate the agreement and ensure he had "first call" on my house, which would need to be sold by 31 December 2030.
The relationship has since broken down following a serious disagreement involving my adult son. My ex-partner has repeatedly insisted that my son apologise to him and has made the future of our relationship contingent upon that happening, despite my son being an independent adult whose actions I do not control.
My ex-partner has now instructed solicitors. I have been sent a draft Loan Agreement and Legal Charge which would place a charge over my home and include restrictions that I do not believe were expressly set out in the informal agreement I signed.
I do not dispute the debt and intend to repay it. My concern is whether the proposed legal charge and additional restrictions go beyond the terms of the original arrangement.
I have asked for the original correspondence to be resent to me as it was initially sent to an incorrect email address.
I cannot currently afford legal representation, so I would be grateful for any thoughts, particularly from anyone familiar with private loan agreements, legal charges or property disputes in England & Wales.
Thank you.