Generic Loan Agreement

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					    Interest-Free Personal Loan Agreement Form
Please complete in BLOCK CAPITALS.

This loan agreement is enforceable in the Courts of Law.
Your home is at risk if you do not keep up with the repayments of loan secured by it.
Please ensure that you have read and agree to the Terms and Conditions overleaf.
                                                                                                                                                                              Ansar Finance Group



Situated:                  Ansar House, 61 Kingsway, Manchester, M19 2LL

(Hereinafter referred to as the “Lender”)


Membership No.

Title:                                                                                                                 Date of Birth:

Surname:                                                                                                               First Name(s):



(Hereinafter referred to as the “Borrower”)

IN CONSIDERATION OF THE LOAN:                                                                                THE REPAYMENTS TO BE MADE AS FOLLOWS:

(a) Purpose of Loan:                                                                                           Date of 1st repayment:

                                                                                                               Amount of 1st repayment:              £

                                                                                                               Intervals of regular repayments:

(b) Amount of Loan:            £                                                                               No. of regular repayments:

(c) Set-up Charges:            £                                                                               Date of 1st regular repayment:

Total Repayable Amount:        £                                                                               Amount of regular repayments:         £




I agree to be LEGALLY bound by the terms and conditions of this Loan Agreement. IN WITNESS whereof the parties have duly executed this document as a DEED on the day and year written herein.

SIGNED as a Deed by the said Borrower:

Full Name:                                                                                                     Date:


in the presence of :-
Witness’s Name:                                                                                            Address:


Occupation:                                                                                               Postcode:

SIGNED as a Deed by the said Lender ANSAR PERSONAL LOANS LTD:

Director’s Name:                                                                                               Date:

(for and on behalf of Ansar Personal Loans Ltd.)

                                                                              And Allah (SWT) is our Witness.
                                        The word of a Muslim is sacred. Promises must be kept and contracts fulfilled. The Prophet (SAW) has said:
                                             “If a man borrows from people with the intention of repaying them, Allah will help him to repay,
                                                       while if he borrows without intending to repay, Allah will bring him to ruin.”
    Interest-Free Personal Loan - Terms and Conditions
Please return the completed application form to:

Ansar Finance Group, Ansar House, 61 Kingsway, Manchester, M19 2LL
T     +44 (0)161 225 8900                  E                W
                                                                                                                                                                         Ansar Finance Group

1. Interpretation                                                                                          (h) in case of a loan for business purposes, any disposal of any of the Borrower’s assets
                                                                                                           (except in the ordinary course of business) or any change in the Borrower’s business,
In this Agreement unless the context otherwise requires :-                                                 without the Lender’s prior written consent in each case;
“Lender” includes successors and assigns and any person lawfully acting on the Lender’s                    (i) use of the Loan otherwise than as specified herein before;
behalf;                                                                                                    (j) any circumstance which in the Lender’s opinion prejudices the Security or the
“Borrower” includes the Borrower’s personal representatives, successors and assigns and                    performance of the Borrower’s obligations to the Lender under this Agreement.
any receiver or other person lawfully acting on the Lender’s behalf;
“Agreement” means the Agreement between the Lender and the Borrower;                                       9. Accounts
“Loan” means the sum of money detailed above and all other sums of money which may
from time to time be lent by the Lender to the Borrower under the terms of this Agreement                  In the case of a Loan for business purposes the Borrower shall provide to the Lender on
or such part or parts thereof as shall from time to time remain outstanding;                               request copies of the Borrower’s audited accounts and such other information as the
“Liabilities” means the Borrower’s Liabilities and any and every part thereof;                             Lender may from time to time require.
“Legal Charge” means a Legal Charge to be executed by the Borrower contemporaneously
herewith for the purpose of securing the Loan and all other liabilities as referred to in                  10. Indulgences
such Legal Charge;
“Property” means all the Property, which is deposited with the Lender and/or all Property                  Without any obligation upon the Lender to do so, the Lender shall be entitled to grant
on which a Legal Charge has been executed;                                                                 time or other indulgence for the payment or satisfaction of any of the Borrower’s liabilities
“Loan Account” means the account maintained by the Lender in relation to the Borrower’s                    without affecting any of the rights of the Lender, or operating as a waiver of such rights
Loan;                                                                                                      in whole or in part;
“Subscription Account” is the account of the Borrower with the Lender in respect of the
Borrower’s membership commitments to the Lender;                                                           11. Charges on Default
“Guarantee” means the Guarantee Agreement undertaken by a guarantor in favour of
the Borrower;                                                                                              The Borrower shall pay on a full indemnity basis all costs, charges and expenses in any
“Charges” means the charges specified in Clauses 11 and 15.                                                way incurred by the Lender in relation to this Agreement or Guarantee or Legal Charge
                                                                                                           executed pursuant to this Agreement including the costs of any proceedings in relation
2. Construction                                                                                            to this Agreement.

(a) Unless the context otherwise requires, words denoting the singular shall include the                   12. Notices
plural and vice versa, words denoting the masculine shall include the feminine also.
(b) This Agreement shall be governed by and construed in accordance with English Law.                      Any demand or notice to be served on the Borrower hereunder shall be made in writing
The headings in this Agreement shall be ignored in construing the same.                                    signed by any director, trustee, or officer of the Lender and may be served on the Borrower
                                                                                                           (without in any way preventing the Lender from serving the same in any other manner)
3. Joint Parties                                                                                           either personally or by post. A demand or notice served by post may be addressed to the
                                                                                                           Borrower at the Borrower’s address or place of business last known to the Lender and a
If the Borrower includes more than one person, the obligations of the Borrower are                         demand or notice so addressed and posted first class postage prepaid shall be deemed
binding on all persons so included, jointly and severally and the references to the                        to have been made or given at noon of the second day following the day of posting and
Borrower in Clause 8 means all or any of such persons.                                                     shall be effective notwithstanding that it may be undelivered or returned undelivered. A
                                                                                                           certificate by any director, trustee or officer of the Lender thereof as to the amount of
4. Subscription Account                                                                                    the Liabilities shall, save in the case of a manifest error, be conclusive evidence for all
                                                                                                           purposes against the Borrower. Any notice to be given to the Lender shall be given at the
The Borrower must maintain an up to date Subscription Account with the Lender at all                       address shown hereon as the Lender’s address for notices or such other address as the
times until all the Borrower’s Liabilities under this Agreement are fully discharged.                      Lender may notify to the Borrower from time to time.

5. Payment Mandate                                                                                         13. Statements

The Borrower undertakes to grant in favour of the Lender such standing order authority or                  The Borrower will receive annual statements showing repayments and balance on his
direct debit mandate in respect of the Payments as may be required by the Lender.                          Loan Account.

6. Early Repayment                                                                                         14. Assigns

The Borrower shall have the right to make early repayment of the Loan, or any part                         The Lender may assign its rights and benefits under this Agreement at any time.
thereof, at any time provided that at least 2 days notice is given to the Lender of the
intention to make such repayment.                                                                          15. Costs

7. Security                                                                                                The Borrower must meet all costs incurred in setting up the Loan, the Agreement, the
                                                                                                           Guarantee and the Legal Charge, and any other costs or expenses which may arise in
The Lender shall lend the Borrower and the Borrower shall borrow from the Lender the                       the process of advancing the Loan. The Lender may at its discretion deduct from the
Loan on the security of :-                                                                                 Borrower’s Loan Account the Set-up Charges mentioned in this Clause.

(a) first Legal Charge over the Property or subsequent Legal Charge whichever is                           16. Lender’s Obligations
applicable; and or
(b) a Guarantee acceptable and duly completed to the Lender’s satisfaction; and or                         The Lender shall not be liable if it is unable to perform its obligations under this Agreement
(c) such further security as the Lender may at any time hold in respect of all the Borrower’s              due (directly or indirectly) to the failure of any machine, data processing system or
liabilities to the Lender; and or                                                                          transmission link or to industrial dispute or anything outside the control of the Lender, its
(d) where a motor vehicle is assigned over to the Lender as security the Borrower agrees                   agents or sub-contractors.
to :-
(i) hand over to the Lender the registration document of his motor vehicle registration                    17. Other Facilities
number............................................ as security for this Loan and agrees not to sell the
car without the written consent of the Lender and agrees not to obtain a duplicate vehicle                 Any other facilities or benefits made available to the Lender and not forming part of this
registration document;                                                                                     Agreement may be withdrawn at any time without notice.
(ii) undertake that he will keep the motor vehicle in good and substantial repair and
working order and to replace worn out articles with like articles of comparable value                      18. Advance of Loan
and this security shall remain in full force and effect as a continuing security until the
Lender discharges this security.                                                                           The Lender shall not be obliged to provide the Loan unless :-
                                                                                                           (a) the Lender receives this Agreement signed by the Borrower;
8. Demand for payment                                                                                      (b) the Security is valued and completed to the Lender’s satisfaction.

If the Lender so decides, the Lender shall be entitled to demand payment and discharge                     19. Administration & Default Charges
of the Loan in so far as then remaining at any time hereafter on the happening of any of
the following events:-                                                                                     (a) A fixed administration charge of £25.00 is payable prior to the issue of the agreed
(a) at the Lender’s discretion if there is any breach of this Agreement or on the death of                 (b) Default of any loan instalment payment without prior notification will result in a charge
the Borrower;                                                                                              of £20.00, and each reminder thereof will also be subject to the same. These charges
(b) non-payment of any of the Payments within 14 days from the date on which it is due                     must be paid separately by cheque to avoid recovery procedures.
to be paid or becomes due hereunder or under any Deed or Document supplemental
(c) any distress, execution or other process is levied or enforced upon or is sued out
against the Borrower.
(d) the Borrower commits any act of bankruptcy or makes any composition with his
(e) the Borrower gives any information or if warranty or representation made by or at the
Borrower’s request to the Lender proves inaccurate;
(f) the Borrower grants any security to any third party or disposes or leases any property
charged to the Lender without the Lender’s prior written consent;
(g) a default arises under any other liability of the Borrower to the Lender;

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