Default is serious and may lead to extra costs, enforcement action and loss of property used as security. The exact consequences are set out in the facility and security documents. Seek independent legal advice before signing and contact the lender promptly if a problem arises.
Information is general only and is not an offer or approval of finance. Lending is subject to assessment, acceptable property security, documentation, legal requirements and final approval. Independent legal, financial and tax advice may be appropriate for your circumstances.