The applicant took state administration of her late father’s estate, but faced problems because the property didn’t have her name against the Land Registry and probate was yet to commence.
CSF directly contacted the solicitor, who confirmed her as the sole beneficiary and provided the additional assurance of having the property assented if required.
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The specialist distributor then proposed a bridging loan, as this would allow the applicant to move into her father’s property, and a £60,000 facility was secured with Precise Mortgages.
Jo Breeden, managing director at CSF (pictured above), said: “This is another great case of bridging finance proving itself to be a solutions provider, but what is particularly pleasing is the Crystal team assessing the legal situation and formulating the application so the lender could make a quick and easy decision.”
Alan Cleary, group managing director at Precise Mortgages, added: “We’re pleased that we were able to assist the team at Crystal to deliver the outcome needed for its applicant.”