Yes, you can. An inheritance loan (also called a beneficiary loan or inheritance advance) is based on your share of the estate. Because of this, you don’t need permission from the other beneficiaries and you don’t need to apply all together.

Waiting for probate to be completed can feel like forever, especially if you are facing financial pressures on top of your recent loss.

It’s pretty normal for beneficiaries to need the money for different reasons. Some might be happy to wait a year to get it, while others might need it sooner. 

But if you find yourself waiting for probate and needing the money quickly, you might be wondering: can you take out an inheritance loan if the other beneficiaries don’t want one?

The short answer is yes, you can. An inheritance loan is based only on your share of the estate. That means you don’t need any consent from the other beneficiaries, and your decision to get an advance won’t affect their inheritance at all.

How do inheritance loans work?

To put it simply, an inheritance loan gives you early access to the inheritance you’re going to get once the probate process has been completed. 

Probate in the UK normally takes between 9 and 12 months, sometimes longer if the estate is more complicated. Instead of waiting for everything to be settled, you can apply for an advance and get a portion of your share within days.

At Provira, we offer Inheritance Advance Loans of up to 50% of your share, and we can often have the funds to you within days!

Here’s how it works:

• Assessment of the estate: The lender looks at the value of the estate and how much of it you are entitled to.
• Advance approved: You then apply to borrow a percentage of your inheritance, with Provira, this is up to 50%.
• Funds released: Once approved, money is transferred directly to you, which you can use however you want, from paying debts to putting down a house deposit.
• Repayment: When probate is complete, the executor makes sure that the loan is paid back first, and then the rest of the money is passed on to you.

Do the other beneficiaries need to agree to the inheritance loan?

No, and that’s the part that a lot of people find reassuring. Your inheritance loan is tied only to your portion of the estate. Other beneficiaries’ shares are completely separate and unaffected by the loan.

The only person who does need to know is the executor, as they will be responsible for instructing solicitors to pay back the loan once probate has been completed. 

So even if your siblings, relatives or other family members don’t want or need an advance, you’re still free to apply for one yourself.

What if the other beneficiaries decide they want an inheritance loan too?

If the other beneficiaries later decide they’d also like an inheritance loan, that’s absolutely possible. Each beneficiary can apply separately for their own advance, based on their share of the estate.

And just like your loan doesn’t affect their inheritance, their loan doesn’t affect yours! The loans stay entirely separate.

The only thing that does need to happen in this case, is that the executor must be aware of all loans, so they can pay them back once probate is granted.  Whilst this might get a little more complicated if different people are entitled to different shares, it’s a relatively straightforward repayment process overall.

What are the Benefits of an inheritance loan?

Inheritance loans can be a great way to get some financial security during an emotional and stressful time. Some of the main benefits include:

Fast access to funds – rather than waiting up to a year, you could receive money within days.

No credit checks or income needed – approval is based on the estate’s value, not your financial history – so it works even if you are unemployed.

No monthly repayments – repayment is made directly from your inheritance once probate is complete, so you don’t need to worry about paying it back.

Flexibility – you can use the funds for anything: paying off debts, going on holiday, investing in a home or just easing day-to-day financial pressures.

Low risk – if the inheritance turns out to be smaller than you (or we!) expected, you won’t be asked to cover the shortfall (as long as you’ve kept to the terms of the agreement).

What can you spend your inheritance loan on?

One of the best things about inheritance loans is that you can spend them on whatever you want.

If you want to buy a new car, pay off school fees or even pay back other loans, your inheritance loan is there for you.

All the loan does is give you access to 50% of your inheritance early, so you can spend it as you like!

Why choose Provira for your inheritance loan?

At Provira, we’ve helped thousands of beneficiaries access their inheritance early. Here’s what sets us apart:

• A caring and compassionate team, here to help you through a difficult time.
• Up to 50% advance on your inheritance.
• Fast pre-approval, usually within 48 hours.
• We charge simple interest, not compound interest, meaning you don’t pay interest on top of interest.
• No monthly repayments or early repayment fees.
• Peace of mind – if your inheritance ends up smaller than expected, you won’t be asked to cover the shortfall.

Whether you’re dealing with costs, expenses, or just want more financial freedom while waiting for the estate to be paid out, an Inheritance Advance can help you access your money sooner. 

Accessing your inheritance early

So, can you take out an inheritance loan if the other beneficiaries don’t want one? Yes, you absolutely can. 

Your decision won’t affect their share, and you don’t need their permission either. The process is easy and compassionate, so you can enjoy what’s rightfully yours when you need it most.

If you’re considering an Inheritance Advance, it’s important to choose the right partner. 

Provira offers Inheritance Advances of up to 50% of your share of the estate, with no monthly repayments and no hidden surprises. Get in touch with the team today to find out how we can help.