BESPOKE BRIDGING LOAN

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PROBATE LOANS

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Probate   is   the   process   of   dealing   with   somebody’s   estate   when   they   pass   away.   This   is   usually   carried   about   by   an   executor,   an   administrator   or   a   blood relative - typically someone who will benefit from the will. Unfortunately   taking   over   the   management   of   a   deceased   person’s   affairs   is   not   always   straightforward.   Complications   such   as   multiple   beneficiaries, unusual   assets   or   outstanding   tax   returns   can   all   mean   probate   drags   on   for   months   or   even   years.   At   a   difficult   and   stressful   time   relatives   can   also   be faced with outstanding debts as well and this is where a bridging loan secured against the deceased persons property can be particularly useful. Many   deceased   persons   will   have   a   complex   network   of   credits   and   indeed   debts,   some   of   which   may   need   prompt   resolution   upon   their   passing.   Of course,   this   in   turn   exerts   pressure   on   the   estates   executors   who   can   then   be   forced   into   a   position   where   they   have   to   make   compromises.   Typically,   they might be forced to liquidate valuable assets at substantially less than their true worth to clear outstanding debts. Another   common   problem   is   where   the   deceased   has   been   a   full-time   carer   for   a   surviving   spouse/partner   who   is   then   forced   to   go   into   a   residential   care home scenario. Considerable new costs can be incurred which once again mean the executors are left facing pressing cash flow issues. For   all   of   these   reasons   there   are   numerous   benefits   to   be   gained   by   fast   tracking   the   settlement   process   and   using   a   short-term   bridging   loan   to   meet pressing   financial   commitments.   By   using   a   bridging   loan,   beneficiaries   of   a   will   are   able   to   pay   outstanding   debts,   meet   any   new   commitments   that   might be   required   for   surviving   relatives   and   potentially   also   cover   legal   fees   and,   if   applicable   inheritance   tax.   They   can   release   a   significant   proportion   of   the property’s   value   and   ultimately   a   short-term   loan,   by   dealing   with   their   short-term   problems,   will   allow   them   to   market   the   property   for   a   longer   period   in order to maximise its value. If   the   principle   property   asset   is   sold   at   maximum   value   rather   than   being   heavily   discounted   or   sold   at   auction   all   those   who   stand   to   inherit   from   the   sale proceeds   will   clearly   benefit.   Whilst   the   number   of   specialist   bridging   lenders   that   offer   probate   loans   is   limited,   those   that   do   have   highly   trained   staff   that can   create   a   lending   solution   precisely   tailored   to   the   needs   of   the   estate.   A   probate   bridging   loan   can   therefore   be   a   hugely   valuable   tool   for   ensuring   the maximum amount of wealth is passed down through the generations. Still unsure and need to explore your options? Why not consult an expert? Central   Bridging   are   bridging   loan   specialists   with   a   great   track   record.   We   are   a   principal   lender   offering   a   range   of   loan   facilities   for   business   use   from £250K to £2.5M over periods from 3 to 24 months. Our loans are secured on freehold property across England and Wales. Crucially   you   will   always   speak   to   a   decision   maker   who   will   take   time   to   understand   you   and   your   situation   and   unlike   some   of   the   bigger   banks   will   then tailor a solution that best suits your needs rather than their own. For a confidential discussion in the first instance contact us on:   Tel 03332 400 506   Email enquiry@centralbridging.co.uk Online
Central Bridging, Granary Wharf, Wharf Road, Burton on Trent, Staffordshire, DE14 1DU Tel: 03332 400 506   Email: enquiry@centralbridging.co.uk   Web: www.centralbridging.co.uk Central Bridging is a trading style of Central Bridging Loans Ltd. Registered in England & Wales | Company Registration Number 07728274. Central Bridging is not regulated by the Financial Conduct Authority (FCA). All loans arranged by Central Bridging are non regulated contracts as defined under The Financial Services and Markets (Regulated Activities) Order 2001 and the Financial Service and Markets Mortgage Credit Directive Order 2015. © Copyright Central Bridging Loans Limited Privacy Policy
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BESPOKE BRIDGING LOAN

& SHORT TERM LENDER

Probate   is   the   process   of   dealing   with   somebody’s   estate   when   they   pass away.   This   is   usually   carried   about   by   an   executor,   an   administrator   or   a blood relative - typically someone who will benefit from the will. Unfortunately    taking    over    the    management    of    a    deceased    person’s affairs    is    not    always    straightforward.    Complications    such    as    multiple beneficiaries,   unusual   assets   or   outstanding   tax   returns   can   all   mean probate   drags   on   for   months   or   even   years.   At   a   difficult   and   stressful time   relatives   can   also   be   faced   with   outstanding   debts   as   well   and   this is   where   a   bridging   loan   secured   against   the   deceased   persons   property can be particularly useful. Many    deceased    persons    will    have    a    complex    network    of    credits    and indeed   debts,   some   of   which   may   need   prompt   resolution   upon   their passing.   Of   course,   this   in   turn   exerts   pressure   on   the   estates   executors who    can    then    be    forced    into    a    position    where    they    have    to    make compromises.   Typically,   they   might   be   forced   to   liquidate   valuable   assets at substantially less than their true worth to clear outstanding debts. Another   common   problem   is   where   the   deceased   has   been   a   full-time carer   for   a   surviving   spouse/partner   who   is   then   forced   to   go   into   a residential   care   home   scenario.   Considerable   new   costs   can   be   incurred which   once   again   mean   the   executors   are   left   facing   pressing   cash   flow issues. For   all   of   these   reasons   there   are   numerous   benefits   to   be   gained   by   fast tracking   the   settlement   process   and   using   a   short-term   bridging   loan   to meet     pressing     financial     commitments.     By     using     a     bridging     loan, beneficiaries   of   a   will   are   able   to   pay   outstanding   debts,   meet   any   new commitments     that     might     be     required     for     surviving     relatives     and potentially   also   cover   legal   fees   and,   if   applicable   inheritance   tax.   They can     release     a     significant     proportion     of     the     property’s     value     and ultimately   a   short-term   loan,   by   dealing   with   their   short-term   problems, will   allow   them   to   market   the   property   for   a   longer   period   in   order   to maximise its value. If   the   principle   property   asset   is   sold   at   maximum   value   rather   than being   heavily   discounted   or   sold   at   auction   all   those   who   stand   to   inherit from    the    sale    proceeds    will    clearly    benefit.    Whilst    the    number    of specialist   bridging   lenders   that   offer   probate   loans   is   limited,   those   that do   have   highly   trained   staff   that   can   create   a   lending   solution   precisely tailored   to   the   needs   of   the   estate.   A   probate   bridging   loan   can   therefore be   a   hugely   valuable   tool   for   ensuring   the   maximum   amount   of   wealth   is passed down through the generations. Still   unsure   and   need   to   explore   your   options?   Why   not   consult   an expert? Central   Bridging   are   bridging   loan   specialists   with   a   great   track   record. We   are   a   principal   lender   offering   a   range   of   loan   facilities   for   business use   from   £250K   to   £2.5M   over   periods   from   3   to   24   months.   Our   loans are secured on freehold property across England and Wales. Crucially   you   will   always   speak   to   a   decision   maker   who   will   take   time   to understand   you   and   your   situation   and   unlike   some   of   the   bigger   banks will   then   tailor   a   solution   that   best   suits   your   needs   rather   than   their own. For a confidential discussion in the first instance contact us on:   Tel 03332 400 506   Email enquiry@centralbridging.co.uk Online
Central Bridging, Granary Wharf, Wharf Road, Burton on Trent, Staffordshire, DE14 1DU Tel: 03332 400 506  Email: enquiry@centralbridging.co.uk Web: www.centralbridging.co.uk Central Bridging is a trading style of Central Bridging Loans Ltd. Registered in England & Wales | Company Registration Number 07728274. Central Bridging is not regulated by the Financial Conduct Authority (FCA). All loans arranged by Central Bridging are non regulated contracts as defined under The Financial Services and Markets (Regulated Activities) Order 2001 and the Financial Service and Markets Mortgage Credit Directive Order 2015. © Copyright Central Bridging Loans Limited Privacy Policy
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KNOWLEDGE BASE

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