Bridging.com has appointed Tower Street Finance as its first strategic lending partner to provide short-term products that enable quick and easy access to inheritance for its individual and company users.
Bridging.com is a digitally enhanced, independent information resource that helps individuals and companies source and compare the most suitable short-term funding solution for a variety of situations.
Tower Street Finance business development director Dicky Davies said: “We’re delighted to be partnering with Bridging.com. It has already generated significant numbers of high-quality leads for us, many of which have converted and all this before they have even officially launched.
“The potential to build on the relationship in 2021 is exciting and makes them a key distribution partner for our unique Inheritance Advance and IHT Loan.”
Bridging.com sales director Alex Ewen said: “We are thrilled to announce that Tower Street Finance will be our first strategic lender partner. Its management team have huge experience and a passion for delivering unique and innovative inheritance products to circumvent the length of the probate process.
“Its Inheritance Advance product was the first of its kind to enable beneficiaries to get access to a large proportion of their inheritance much sooner than would normally be the case. They have now added to this with their IHT Loan which is helping executors where there is an Inheritance Tax (IHT) liability to pay but no funds available.
“Both products are innovative, simple to understand and transparent. Put simply, they are game changers in the probate space and we’re excited to be partnering with them.”
The Tower Street Finance IHT Loan is for executors and is paid directly to HMRC to settle the tax bill and its award-winning (1) Inheritance Advance is for beneficiaries.
Both products offer:
- No credit checks
- No charge over property
- No personal liability
- No monthly repayments
- Fixed monthly interest rate
The loan is always repaid from the estate funds once the estate is ready to distribute. There is a 2 per cent origination fee (capped at £1,500), which can be added to the loan, and a fixed yearly interest rate of 19.6 per cent. Interest roll up is capped at 30 months.
Bridging.com is part of the Falbros Group which owns over 500 websites, a 1000 domain names and over a million pages of content in Google. It has 12 per cent of google market share across financial services and a projected 40 per cent share of the bridging market by the end of 2021.