Key Differences Between Taking Security In Scotland And England

Introduction

A lender looking to provide finance to a borrower will always want to ensure that it has an adequate security package to allow them (in the event that things take a turn for the worse) to be able to recover at least some, if not all, of the outstanding indebtedness of the borrower. Lenders who operate across a number of jurisdictions, even within the UK, should be aware that, north of the border, things aren't quite the same when it comes to the types of security available. Lenders will require to take a slightly different approach when it comes to ensuring that they are adequately secured in respect of Scottish borrowers, or borrowers with assets situated in Scotland.