I got a personal loan from my bank for £16000. £380 per month for 48 months therefore it will be approximately 18,240 to pay in total. 68% of the loan which is £11,000 was used to buy our car then we had £2,500 each (16% each) to pay for our credit cards. Me and my partner need a loan agreement that in case we depart ways then he will keep the car. I will only have to pay the 16% of the total loan that I used to pay for my credit card then he will pay the rest and will set up a direct debit. I have called a solicitor and they say they will charge us £550! Is this the going rate to have a legal agreement like this? Is there a template that we can use so I can just fill it in myself and just have it notarized? Please help!
M