The last thing a bereaved family needs is to worry about the financial pressures of the probate process. Our bridging finance loans can support beneficiaries of a will to:
- Pay legal fees and inheritance tax immediately on grant of probate
- Release immediate funds to beneficiaries within 7-10 days
- Allow for a controlled sale of the property to maximise its value
- Avoid fire-sale of valuable assets
- Immediately benefit from the wealth left by relatives
- Release funds from inherited property equity to refurbish a property and maximise value
How does it work?
A bridging loan for probate is very similar to a standard bridging loan. It is a short, fixed-term loan secured against a property asset. The key difference between BFS bridging loans and those of a traditional lender is speed. We can arrange a loan in a matter of days – rather than weeks or months. We offer bridging finance loans from £25,000 up to £2,000,000. Terms are usually between 1 and 12 months but can be longer if required and you only pay for the number of days that the loan is used.
How do we help
Sadly, for many people concluding a will is not always as straightforward as it ought to be. While the ownership of various assets might be simple enough to resolve, the average person will take on a network of debt and credits which must be settled. For instance, inheritance tax might force the liquidation of valuable assets. Likewise, an outstanding debt may necessitate the sale of valuable assets below market value.
Our friendly team are quick to put solutions in place so individuals can use the loan to pay off debts instead of being forced to sell assets as quickly as possible. We create a loan structure that is perfectly suited to individual circumstances and our people-first approach ensures that families have the breathing space they need at an already difficult time.
Other uses of our bridging loans: