I have a tenant who has given notice. They said that they wanted to agree a payment plan although I don’t know know for how long. Whilst they haven’t been charged for interest on arrears which have occurred for several years now I wanted to know
1) as tenancy has ended am I restricted to the rate of interest to be charged. I intended to formalise this as a normal loan
2) do you have a template loan agreement that could be used and does that have electronic signatures. Should that loan agreement be witnessed?
3) I wanted to calculate the interest arising during the tenancy and specify the amount. This amount would be forgiven provided that the arrears payments and interest after the tenancy were paid on time. Do you foresee any problems with this?