When a bank or financial services provider offers a customer a loan, it’s understood that there will be small print. The terms and conditions under which the loan is offered and accepted are put in place to make the agreement as clear as possible and to protect both parties. What would happen if these agreements weren’t formalised in such a way? Consider for a moment, that one of the UK’s biggest lenders does not require a compulsory loan agreement. In some cases, that lender does not even discuss repayment at all. It would appear to be quite a risky strategy, don’t you think?