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=S=> BGB 498. 1 With regard to a loan that is to be repaid in instalments , the lender may only give notice of termination on account of the default in payment of the borrower if the borrower is in default in the payment of at least two consecutive instalments in whole or in part and by at least ten per cent , in the case of a consumer loan contract running for more than three years by five per cent , of the nominal amount of the loan or of the instalment price , and the lender has without result given the borrower a period of two weeks for payment of the amount in arrears and has declared that in the case of failure to pay within the period , the lender will demand the entire residual debt . At the latest when the lender specifies a period of time , the lender is to offer to the borrower to discuss the possibility of an arrangement by mutual consent .
=S=> BGB 498. 2 If the lender terminates the consumer loan contract , the residual debt is reduced by the interest and other charges dependent on the duration of the loan which , if graduated calculation is used , apply to the period after the termination becomes effective .
=S=> BGB 498. 3 Subsection ( 1 ) applies to real estate loan contracts on proviso that the borrower must be completely or partly in arrears in respect of at least two consecutive instalments and of at least 2. 5 percent of the nominal amount of the loan .
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