URGENT FINANCIAL ADVICE REQUIRED due to Divorce

cropmaster

cropmaster

Member
Location
pwllheli
Due to a complicated divorce I need to pay off ex wife.
I need to borrow £125k on a bridging loan or similar for a short period of time-12 months.
Any decent companies or suggestions welcomed -time is of the essence.
Thankyou
 
F

Flasheart

Member
Location
N.Suffolk
cropmaster said:
Due to a complicated divorce I need to pay off ex wife.
I need to borrow £125k on a bridging loan or similar for a short period of time-12 months.
Any decent companies or suggestions welcomed -time is of the essence.
Thankyou
Click to expand...

AMC financed my divorce settlement without ant problems ( except how to pay it back!)
 
Raynard

Raynard

Member
Location
South
Not really the end of the world.... If you have security (ideally land) and a clear plan of how you will service the debt / repay then bank manager should be supportive and hopefully be bright enough to understand last 4 yrs. Any finance away from high street generally comes at a premium.
 
Walterp

Walterp

Member
Location
Pembrokeshire
Unless you are sure you can refinance a bridging loan within a twelvemonth, it is imprudent to bridge such a large sum - the risk being that this move will become a fast exit to a very bad Second Act.

There are plenty of companies who can guarantee the finance - but ask yourself 'why are they sure they can advance the money?'. Because they know they are going to make a lot of money on the deal if it proceeds as planned, and even more if it doesn't. A quick look at the adverts in the FG is a start.

As others have suggested, contact the AMC - they have extremely experienced managers, like Mr Martin Waites (whose name is a byword for farming finance expertise) and they can direct you to an AMC agent who can present your application as favourably as possible.

Good luck.

And tell your wife's solicitors they're gonna have to wait...
 
rob1

rob1

Member
Location
wiltshire
Do you not have any off lying bits/horsey paddocks you can off load to reduce the amount , a few bits sold to neighbours to add to their garden is a good way too. I had a similar situation 13 yrs ago and sold a few acres which made life much easier.

Hopefully you will move on from the divorce in a while and if you have to work every hour to pay a large debt off you wont be very attractive to the fairer sex, there is more to life than keeping every acre and if the divorce was messy, as it sounds probable due to the time it took to sort, if you are seen to move on it will pee the ex off, mine like many ex's tried to cripple me financially. Good luck(y)
 
MattShannon

MattShannon

Member
Location
Cheltenham
As a number of you have pointed out, short term loans are available if you have unencumbered large assets such as your house, land or other pieces of kit and machinery that's not too old. Funders will then take a view, do their own valuations on these items and make a decision based on that.
 
cropmaster

cropmaster

Member
Location
pwllheli
already cost much more than this ! if I do not get her the money very soon , court orders everything to be sold and she gets half !! was not even my fault (divorce ) !!!!!!!!!!
 
R

Roger Perry

Member
Location
Monte Vista 81144, Southern Colorado.
Pre Nuptial contract should be made lawful in your country, perhaps if starting out with little in the way of assets it's not so important but for anyone who comes to the table with "stuff" it can be crucial.

Especially so in ag where the generations that have built the equity are very apprehensive about handing it over to the next generation, sounds cynical I know but a good contract can make a good deal.
 
Brisel

Brisel

Member
Arable Farmer
Location
Midlands
Roger Perry said:
Pre Nuptial contract should be made lawful in your country, perhaps if starting out with little in the way of assets it's not so important but for anyone who comes to the table with "stuff" it can be crucial.

Especially so in ag where the generations that have built the equity are very apprehensive about handing it over to the next generation, sounds cynical I know but a good contract can make a good deal.
Click to expand...

Wise words. Get a good lawyer & accountant too. It doesn't matter how much you love your ex, if they have better legal advice than you then you're gonna get screwed in a way you don't like.

Part of the problem is that when you start, both of you have little intention of anything going wrong. I can see why so many older generations are reluctant to sign assets over to the son/daughter because of this risk.
 

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