I just today adjusted the handbrake in my 407 using the self adjust mechanism. First you need to remove the ashtray on the back of the center console, then pull off the panel that the ashtray sits in, it should just pop out with little wiggling, behind this you should see a a small gold colour nut going into the floor use a 12 spanner to release it, take out this nut and you should be able to lift the centre console up a bit , your handbrake should be fully off and pump the brakes till the pedal goes hard. Under the console you will see your handbrake mechanism, you should a yellow topped pin with a spring, make sure your handbrake is fully off and push this yellow button, you should hear it ping as the handbrake adjusts itself. Test the handbrake and that should be it. Just put everything back where it came from and your good to go... Good luck
Dean, January 2016