Is a Bridging Loan an option for me?

T8T

https://forums.moneysavingexpert.com/discussion/comment/81995484#Comment_81995484

I haven’t got £0.5m in the bank. No doubt closer to £350k, once they’ve finished fleecing me for delaying the probate process.

I had the best parents I could have ever have wished for. They can fleece me of as much inheritance as they wish, but they can’t take that away from me. That means more than money ever will.

I currently have nothing in the bank. I dragged my heals in delaying the probate (for good moral reasons). It ended up in court, and a solicitor assigned by the court, then took over the probate process. Before I get a penny, they insist I vacate the family home, so they can then market it for sale. Only after it’s been sold, will I see any inheritance. That leaves a shortfall where I have no money and nowhere to live. Hence why I referenced ‘emergency housing’.

Why they can’t market the home for sale, whilst I still live here, I don’t know. I’ve put that question to them, they ignore me.

I’ve now been informed of a set court date next month, where I can put my side of the story, and a judge then decides how much longer I can stay living here, until they want me out. Hopefully enough time to get my new business up and running, and sufficiently profitable, to rent a suitable place, somewhere close by.

If there is a shortfall, maybe a loan, secured against my due inheritance, to pay rent, until the family home is sold? Such loans exist. However, I did previously try that exact route for a loan for the new business, which would have made things SO much easier. I approached the probate solicitors (appointed by the court), asking them to speak to the loan company, to verify my total inheritance due. In short: they wasted five months of my time, waiting for them to verify with the loan company, only for them to say: They didn’t want to be seen favouring one inheritance beneficiary, over the other. Fair enough, but why the heck didn’t they state that when I first asked them? Instead of wasting 5 months of my time and patience.

Maybe there is a loan company, happy to proceed with a loan, on that basis, without having to verify directly with the solicitors?

This time wasting is something I’ll put to the judge, in clemency for my claim for more time living here.

elsien

if you have no money and find a place within the local housing allowance range to rent, housing benefits/universal credit should pay that for you. It is hard to find a landlord who will accept benefits unfortunately but you could look at an HMO as a short term measure.

ETA They won’t market the house if you are still in it because no one will buy it in those circumstances. Too much of a risk that on completion you refuse to leave and then there is an eviction battle on their hands. No buyer’s solicitor would allow them to exchange in those circumstances.