A legal remedy on default, all but obsolete in the UK. A Foreclosure order caused the borrower in default to forfeit the equity of redemption (i.e. on sale, the lender would keep any profit). A foreclosure order would have to be granted by the High Court of Justice.

What to do if you need more help

If you need more help with your specific commercial loan, mortgage or insurance requirement please speak to a professional financial adviser.

We hope you found this information useful.

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