Using Bridging Finance to Manage Probate

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Theresa Mulligan was keen to resolve an issue with probate following her mother’s passing. A three bedroom property had been passed to Theresa and her siblings with Theresa looking to purchase the property. With her sibling keen to secure a sale as soon as possible, Theresa was in need of fast finance, to secure the property and make it her new home.

Spotting an article in the local newspaper, the Liverpool Echo, Theresa contacted Bridging Finance Solutions and Jeanette Jones was allocated as her case manager. Theresa said: “From the very first point of communication, the process has been incredibly smooth. Jeanette talked me through the paperwork and we got things moving immediately.

“Having recently lost my father and having lost my mother the previous year, it was really important to me to make sure that I kept the family home and so it was a very emotional time for me. Having never been through the bridging process before, there were of course, lots of questions and queries from me. Jeanette was brilliant, simplifying the process and giving me much needed peace of mind, responding to my questions promptly and efficiently even responding to my questions out of office hours. The lines of communication remained open from start to finish which really helped me feel at ease with the transaction.

“In all, the monies were secured within three weeks, and I borrowed £67,000 over 12 months and was able to pay my brother back straight away. My husband and I have since moved into the property and made a series of repairs and improvements which we believe will enhance the value of our home and ensure we can secure a long term mortgage.”

Theresa added: “I had an excellent experience with Jeanette and Bridging Finance Solutions. I couldn’t recommend them more.”

Jeanette Jones, Business Development Manager at Bridging Finance Solutions added: “We often deal with issues of probate here at BFS where a property is tied up with legal issues. Bridging allows beneficiaries to use the probate property as leverage, taking money out that can be used to provide share out monies for siblings or used to improve the house before long term finance is secured. In this instance, we provided Theresa with a choice from a panel of solicitors that we have sourced to act totally independently for our clients they  understand the nature of bridging and are therefore willing to act quickly and  correspond efficiently with our  partner solicitors at the pace we needed them to. We were really pleased to be able to help Theresa and make sure was able to secure her family home.”

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