Follow Ups/Extra Information. Most recent is listed first.

UNION FINANCIAL HOME
ADDRESS: CALLE CISNEROS 25 ALCORON MADRID, SPAIN 28921 SPAIN.
Email: union_applicant10@outlook.com
Our Ref: BL678/17/3879
You’re Ref: LOAN
Date: 03/10/2017
LOAN AGREEMENT BETWEEN
(BORROWER)
AND UNION FINANCIAL HOME
THIS AGREEMENT is made and entered into on the _3RD_ day of NOVEMBER _2017_ BETWEEN Union Financial Home hereinafter called "the Lender" AND _ Mr. George Smith_ hereinafter called "the Borrower" and reference to the parties hereto shall mean and include their respective heirs, executors, administrators and assigns;
WHEREAS the Borrower is in need of funds and hence has approached the Lender to grant him 2% interest loan of £350,000.00Three Hundred And Fifty Thousand Pounds _ only) for a period of _ 72 Months;
AND WHEREAS the Lender has agreed to grant a loan to the Borrower, of interest 3%
AND WHEREAS the parties hereto are desirous of recording the terms and conditions of this loan in writing;
NOW THIS AGREEMENT WITNESSESS and it is hereby agreed by and between the parties hereto as under:-
1. The Borrower hereto, being in need of money, has requested the Lender to give him an interest of 2% loan of £350,000.00Three Hundred And Fifty Thousand Pounds _ only) for a period of _72 Months) to which the Lender has agreed.
2. The said loan is required and repayment starts by the Borrower after a period of 30 Days, commencing from 03/ 11 / 2017 and terminating on 02/ 11 / 2024.
3. The Borrower hereby agrees and undertakes to return the loan of £371,711.16 in a Monthly installment, within the aforesaid period.
4. The terms and conditions of this Agreement are arrived at by the mutual consent of the parties hereto.
IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed their respective hands the day and year first hereinabove written and the below payment schedule.
LOAN REPAYMENT SCHEDULE
Loan Balance: £350,000.00
Loan Interest Rate: 2.00%
Loan Term: 6 years
Monthly Loan Payment: £5,162.65
Number of Payments: 72
Cumulative Payments: £371,711.16
Total Interest Paid: £21,711.16
Note: The monthly loan payment was calculated at 71 payments of £5,162.65 plus a final payment of £5,163.01.
In line with the company loan procedures, there are two options which you are required to choose from which is the Equity Based Collateral and Non-collateral/Security Deposit loan process to enable us proceed with the transfer of your loan as soon as possible.
EQUITY BASED COLLATERAL: This equity based collateral is a type of collateral that will equal about half or more than the amount of loan that will be transferred into your designated banking account. This EQUITY BASED COLLATERAL will be ORIGINAL DOCUMENTS of your company's certificate of operations (License validating your company) duly issued by your Government through the appropriate agencies or certificate of occupancy of a fixed property (House) or a real estate property (Plot of land), that is worth the value as described above also duly issued by your Government through appropriate agencies. Complimentary to either of these will be latest tax receipt payment of your company or claimed property. You will be requested to bring them in person or through an agency for proper verification, documentation and validation of the security of this transaction. You can come in person so that you can see the company you are dealing with or the company lending your company such amount of money. This is requested in other for a better trust to be built among both companies.
NON-EQUITY BASED COLLATERAL/SECURITY DEPOSIT: This non-equity based collateral option is made available mainly for companies, organizations or individuals that would not want to come over to our company with the requested documents as a result of distance considerations and risks involved when such documents are carried about. One thing about this alternative option is that it is a Non-collateral/security obtained from the bank here which is popularly known as bank securities/deposit. When you obtain this non-collateral/security, it actually yields value which will eventually be equivalent to the loan you are obtaining during the stipulated duration of the loan. When you are unable to pay back, the issuing Bank takes the non-collateral/deposit which has yielded value as substitute for the loan. Then if you pay back the loan at the stipulated time/year/duration, the Non-collateral/deposit and the yielded interest will be returned back to you at the end of the re-payment. So this is why we personally advise that our clients should simply go for the non-collateral alternative when they do not have an equity based property to present as collateral because it is more advantageous.
INUSRANCE;
Insurance premium is mandatory in services rendered by this financial institute and it’s paid by both parties; Lender and Borrower each paying 50% of the insurance cost before transfer proceedings. The insurance premium charges for the aforesaid amount is £ 4,500.00 Your will be expected to pay the sum of £ 2,250.00 for the insurance cost of your loan against theft and Money Laundry as it’s the policy of the company for all financial transactions .
You are expected to receive your loan in your bank account within 72hrs after necessary transfer documents and processes have been meant by you.
DECLARATION: The parties have here unto set their hands to seal the date and year first above written and signed by all parties without any form of breaching.
Regards,
Management.