UK Property Law
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Thanks for your question.
If the lender takes possession of the property, sells it and there is still monies outstanding (ie. because of the negative equity and the addition of their fees for taking possession and selling) then depending on the amount owed the lender will take action here in the UK.
They would have to issue a claim here in a UK court and obtain judgement on the debt. They would then seek to enforce that judgement against your assets here. Generally it is better to have a policy of engagement on these matters and you should not just bury your head in the sand. Get in contact with the lender and ask to be kept up to date on the process with respect to the sale of the house.
If they issue here then you would receive notice of the claim, have to acknowledge the claim by stating whether the debt (or part of it) is admitted or whether you intend to defend the claim. At this point you should take legal advice from a UK litigation solicitor, you can find them in your area by using the following Law Society searches engine and selecting "civil litigation" from the area of law drop down menu:-
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