BESPOKE BRIDGING LOAN

& SHORT TERM LENDER

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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PROBATE LOANS

KNOWLEDGE BASE

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