Mortgage lenders have begun writing to recalcitrant buy-to-let borrowers in arrears to warn them that they risk repossession if they don't engage and work out restructuring plans or other debt management agreements.
Sources who received the letters in recent weeks said the banks were imposing tight deadlines of just a few weeks to cooperate or face legal action.
Banking sources, who asked not to be named because they were not authorised to speak about the...
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