A new interest free estate funding facility has been launched by a national probate property services provider to help estate administrators access cash locked up within an estate while going through probate.
London-based Property Solutions Group (PSG) claims to have launched a market first funding facility to cover costs associated with property clearance, maintenance, repairs, insurance and valuation costs. It is anticipated the initiative will help executors and beneficiaries who are left ‘stranded’, unable to proceed with necessary tasks due to a lack of funds. The Estate Funding service will ‘bridge the gap between estate assets and the expenses required for effective estate management’ say Property Solutions Group, and provide estate administrators with access to PSG’s ‘extensive expertise in the management of probate property.’
“Traditional lending avenues may not always be suitable for probate properties as conventional lenders are often hesitant to extend credit for properties in probate due to the inherent uncertainties and potential delays associated with the process. Or simply that the level of funding required is below the lenders’ minimum amount.”
says Gary Shaw, Commercial Director for Property Solutions Group.
“Estate Funding is a bespoke funding solution that meets the unique needs of each estate. We have seen a growing need for a solution like this over the past couple of years. As an interest-free solution, we ensure we stand by our promise to protect estates entrusted to us from unwanted charges.”
Barry Mattock, CEO and founder of Property Solutions Group added:
“The Estate Funding solution is another example of how PSG leads the way in this market. We were the first to launch a zero fee sale option for probate property and this latest innovation not only alleviates the financial burdens but also provides peace of mind during what can be a challenging and emotionally taxing time.”
Estate Funding has been recognised by the upcoming Probate Industry Awards, with Property Solutions Group shortlisted in the Best Legal Industry Service Provider category.
