Notice Of Default Under Standard Security - Sample

ADVERTISEMENT

This is an example of the letter that a lender will send to a debtor to notify them that they
have defaulted under the standard security and they intend to apply to court for remedies,
for example to repossess and sell the debtor’s property.
In this form:
“A.B.” refers to the mortgage holder
“C.D.” refers to the mortgage lender
“E.F.” refers to another party, for example a partner of the mortgage holder, who
may also be liable for the mortgage
“G.H.” refers to another party who may have been instructed by the mortgage
lender to claim the debt owed under the mortgage agreement
FORM B
NOTICE OF DEFAULT UNDER STANDARD SECURITY
IT IS IMPORTANT THAT YOU READ THIS LETTER - YOUR HOME MAY BE AT RISK OF
REPOSSESSION
To A.B. (address)
TAKE NOTICE that C.D. (designation), the creditor in a standard security by you (or by E.F.) over
(insert address) (“the property”) in favour of C.D. (or of G.H. to which C.D. has now right)
recorded in the Register for .................. (or, as the case may be, registered in the Land Register for
Scotland) on .................. requires fulfilment of the obligation(s) specified in the Schedule hereto in
respect of which there is default; And that failing such fulfilment within one month after the date of
service of this notice—
IF THE PROPERTY IS A RESIDENTIAL PROPERTY, C.D. may apply to the sheriff
court for warrant to exercise the remedies available to a creditor on default for example to
repossess and sell the property.
IF THE PROPERTY IS A NON-RESIDENTIAL PROPERTY, it may be sold without the
need to go to court.
Dated this .................. day of ........................
(To be signed by the creditor, or by his agent, who will add his designation and the words Agent of
the said C.D.)
Schedule of Obligation(s) in respect of which there is default.
To (specify in detail the obligation(s)in respect of which there is default)
IT IS STRONGLY RECOMMENDED THAT YOU SEEK ADVICE:
You can get advice about this Notice and what it means for you from a solicitor, Citizens Advice
Bureau or other advice agency or, in the case of a residential property, an approved lay
representative. A Citizens Advice Bureau or other advice agency may also be able to give you
advice about how to manage debt. Take this Notice with you when seeking advice. You may be
eligible for legal aid depending on your circumstances. You can get information about legal aid
from a solicitor.
A solicitor or an approved lay representative may represent you in any court proceedings in relation
to an application by C.D for possession and sale of your home. You can find out more about

ADVERTISEMENT

00 votes

Related Articles

Related forms

Related Categories

Parent category: Legal
Go
Page of 2