Credit Contracts and Consumer Finance Act 2003, ss 83G, 83V
If you as a guarantor have put up some of your property as security for the borrower’s debt, and the borrower doesn’t make their payments, there’s a strict process the lender must follow before they can take your property (“repossess” it) to cover the debt. This includes first having to give you a “repossession warning notice” (see: “Repossession”).