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Loan Release Form
"I need a Loan Release Form to formally discharge a commercial loan of £500,000 that was fully repaid on 15 March 2025, including the release of associated property security and two personal guarantors."
1. Identification of Parties: Details of lender and borrower including full legal names, addresses, and any registration numbers
2. Loan Reference: Original loan agreement details including date, reference numbers, and initial loan amount
3. Release Statement: Clear and unambiguous statement confirming the release of obligations under the loan agreement
4. Settlement Amount: Confirmation of any final payment made or required to effect the release
5. Effective Date: Specification of when the release takes effect and any conditions precedent
1. Security Release: Provisions for the release of any security held against the loan, including property charges or other assets
2. Guarantor Release: Specific provisions releasing any guarantors from their obligations under the original loan agreement
3. Partial Release: Details of terms where only part of the loan or specific obligations are being released
4. Regulatory Compliance: Additional provisions required for compliance with FCA regulations or consumer credit legislation
1. Schedule 1 - Original Loan Details: Copy or detailed summary of the original loan agreement terms and conditions
2. Schedule 2 - Payment History: Record of payments made and final settlement details for audit purposes
3. Schedule 3 - Security Documents: List and details of security documents being discharged or released
4. Schedule 4 - Supporting Documents: Any additional documentation evidencing the basis for release or settlement
Authors
Acknowledgment of Payment
Release and Discharge
Security Release
Guarantor Release
Representations and Warranties
Further Assurance
Severability
Entire Agreement
Governing Law
Jurisdiction
Counterparts
Notices
Costs and Expenses
Assignment
Third Party Rights
Confidentiality
Return of Documents
Waiver
Amendment
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