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Bridging Loan To Help Ease A Divorce Settlement In Cheshire

£700K Cheshire

Our clients approached us while awaiting the sale of their residence after receiving the final order concluding their divorce - we assisted them in securing bridging finance to ease an otherwise stressful process.

The Scenario

We were approached by clients facing a multi-faceted problem during the final order of their divorce.

• They wished to sell the family home (valued at £1.75M) – the husband lived in the family home while the wife rented a flat.

• They needed capital, and a quick solution, for two things: renovating the property they were selling (to maximise its full potential value) and funding the purchase of two buy-to-let (BTL) properties for separate living.

• They aimed to generate income through the BTL properties to ultimately offset the costs.

• However, their combined wealth was tied up in the initial property, and they did not have access to adequate funding to go ahead with these plans.

Splitting wealth between two parties is time-consuming and prolongs an already difficult period. You might find yourself having to live with your ex-partner, or both parties may be renting elsewhere while awaiting the sale of the family home. Ultimately, this further inflates the cost of the divorce. 

Additionally, the legal process of divorce can move sluggishly as you must wait on various parties – you are forced to move at the pace set by the legal proceedings and the estate agents, accountants, and solicitors involved. 

For these reasons, bridging finance can often ease the legal process regarding a divorce settlement, smoothing over logistical and financial strains with flexible financing options.

The Solution

We were able to secure our clients a short-term bridging loan of £700k against the initial property, spanning a 12-month term. 

With bridge finance, we resolved our client’s scenario through; 

• Funding the two BTL property purchases at circa £250k 

• Allowing £200k for refurbishments and renovation of the main property, alongside additional costs.

• Allowing the property time on the market to find the right buyer after renovations had been funded.

• Giving the flexibility needed to put their wealth to work while awaiting the sale.

Ultimately, in providing this solution, the two parties could resolve their financial arrangements in a timely manner; living separately without the strain and complications that could have arisen if they didn’t seek out the appropriate bridge finance. 

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