Any Credit HistoryMarket Leading Rate 0.55%1st & 2nd ChargeAuction FinanceResidentialCommercialRefurbishmentQuick DecisionExpert AdviceNo monthly paymentsThere is no such thing as a typical divorce, and the complexities of separation never fail to come as an unpleasant surprise. Unfortunately, research suggests that a full 33% of marriages that take place in the UK end in divorce.
One of the few things all separating couples can agree on is the importance of a swift and amicable resolution. Not to mention an agreement that ensures both partners walk away with the assets they are entitled to.
A cost-effective option for consolidating expenses and 'bridging' gaps, bridging finance can be a valuable tool for negotiating the complexities of divorce.
The division of assets between separating partners in the case of divorce is never easy. In most instances, marital assets take the form of tangible possessions and property. The home the couple lived in, the car they shared, their most valuable household possessions, all assets that may be viewed as legally divisible by the courts.
For more information or to discuss your requirements in more detail, contact a member of the team at bridgingfinance.com today.
Bridging loans can be used for a variety of purposes, with the following being the most common:
Here at bridgingfinance.com, we take customer satisfaction very seriously. That is why we go the extra mile to provide the best service possible to all of our clients.
Every member of our team is highly trained and experienced in property and specialist lending products, ensuring our clients get the best products at the best rates.
We have access to many specialist lending products that can be tailored to each individual’s needs. We can offer flexible, fast, and cost-effective loans for clients with specific requirements. Deal directly with the lender; no middleman!
Our track record speaks for itself through our thousands of satisfied clients. Our experience and unrivalled customer service mean that we have many returning clients with whom we have built a long-lasting relationship.
We use the latest technology to ensure simplicity, speed, and ease for our clients, as well as highly trained staff to ensure everything runs smoothly.
We can tailor loans to suit whatever property funding needs our clients may present. With access to a wide range of lenders, we are able to offer specialist loans at competitive rates.
As it is impossible to carve a home, a car, or anything else down the middle, one partner will usually 'buy the other out' of their half of the asset. But as it can take as long as 12 weeks to arrange or rearrange a mortgage, the whole thing leaves both partners in a difficult position.
Bridging finance provides divorcees with the option of dividing their assets fairly and amicably without having to wait months for major banks to reach a decision. The funds needed by both partners to pay their counterparts for their share of the divided assets can be raised in a matter of days. Even though the separation of marital assets during divorce proceedings is fairly straightforward, the legal and administrative costs associated with divorce can be surprisingly high.
According to Aviva, the average cost of divorce in the UK is now just over 14,500 GBP. This is the kind of money most couples simply do not have at their disposal, calling for an affordable short-term solution.
Bridging loans are issued on the basis of two things:
Bridging finance is available starting at around 10,000 GBP, with no upper limits available. Loan sizes are capped only by the value of the assets used to secure the loan, typically the home of the borrower. Charged at a rate of around 0.5% per month, bridging finance can be highly cost-effective when repaid promptly. In addition, a bridging loan can be arranged within a few business days, making it ideal for sensitive and time-critical scenarios like these.
Even with poor credit and/or no formal proof of income, it is still possible to qualify for bridging finance. However it is important to target the right lenders with your applications, as not all providers are willing to work with "subprime" applicants. However complex and costly your divorce becomes, a fast-access bridging loan could be just the thing to simplify the financial side of your separation.
Business Address: Office block 2, Kibworth Business Park, Kibworth Harcourt, Leicestershire, LE8 0EX
Telephone: 0116 464 5554
Email: info@bridgingfinance.com
0116 464 5544
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