Can a beneficiary get an advance on an inheritance?

A beneficiary can get an advance on an inheritance by taking out an Inheritance Advance. This is also known as a beneficiary loan or beneficiary advance, where they can access part of their inheritance before the probate process is completed.

Probate in the UK can take anywhere from six months to a year or more. Sometimes, when estates are especially complex, it can take significantly longer. 

For beneficiaries waiting on their inheritance, the wait can feel endless. Particularly when you know the inheritance will unlock doors to your future. 

That’s where Provira’s Inheritance Advance can provide a way to move forward. 

Our loan gives beneficiaries access to up to 50% of their inheritance within days. 

We only charge simple interest, not compound interest, saving you money in the long run. And if everything wraps up quicker than expected, we don’t charge early repayment fees.

Plus, we don’t require monthly repayments. The loan is simply repaid in full once the estate has been settled and funds are released.

For more information, explore our Inheritance Advance here.

How does an Inheritance Advance work?

An Inheritance Advance gives you access to up to 50% of your inheritance, often within days.

The fundamentals are: 

1. The loan provider, such as Provira, assesses the value of the estate and your predicted share.

2. You are offered up to 50% of the total value of your inheritance. 

3. There are no monthly repayments. The loan is repaid directly from the estate when probate is complete.

4. As the loan is based entirely on the estate value, in fact, one of the benefits of this type of loan is that you can get an Inheritance Advance with bad credit and the beneficiary is not personally liable.

5. Successful applications are often completed in under a week.

6. They are classified as ‘non-recourse loans’. This is where there’s no penalty for the person who took out the loan if the inheritance ends up being less than expected.

7. An Inheritance Advance is linked solely to the person that takes it out. A beneficiary does not need to check with the estate or other beneficiaries before choosing to take out a loan.

Can I get an Inheritance Advance without telling other beneficiaries?

Yes, absolutely. This is a common misconception about this type of loan. 

If you want to take out an Inheritance Advance, you don’t need the consent or agreement of other beneficiaries to do so. 

The loan is based purely on the predicted share of one beneficiary, and each application for a loan is independent. 

At Provira, we see this concern pop up from beneficiaries all the time. Many people delay or put off applying for an advance because they think it needs to be a collective decision. This is also common when beneficiaries disagree with how a will is being distributed.

But delaying access to your inheritance, even if it’s only a part of it, can stop you from moving forward with your life. 

By taking out our Inheritance Advance, beneficiaries can put an end to feeling in limbo and start to build their future within days.

Through our low cost approach you:

• Only pay simple interest, not compound interest

• Won’t be charged early repayment fees if everything wraps up sooner than anticipated

• Don’t have to repay in monthly instalments. Instead, the loan is repaid in full once the estate has been settled.

To find out more, start your application today.

What can I use my Inheritance Advance for?

Many beneficiaries are unsure what Inheritance Advance’s can be used for. The answer is anything you want. 

Beneficiaries often put their loan towards relieving financial pressures such as debts, mortgages or school fees but, as the money is yours to use as you wish, it can be used for anything from buying a new property to starting a business. 

Receiving an inheritance can offer an exciting outlook on your future. If you’re wondering why an inheritance takes so long to come through, it’s because probate takes a long time to complete making the wait for your money feel endless. 

With the new Inheritance Tax (IHT) reforms introduced this year, and more to come in 2027, more estates will find themselves facing higher IHT bills which could delay when beneficiaries receive their inheritance even longer.

This is due to estates not having the cash available to cover their bill before the six-month deadline. 

Luckily, our Estate Advance helps executors to cover this, as well as any other urgent estate expenses. Find out more here.

What are the costs of an Inheritance Advance?

The costs of an Inheritance Advance are incredibly low, and nothing is paid upfront. 

Costs include a 2% fee for setting the loan up as well as a fixed monthly interest rate of 24% for the duration of the loan. 

Both of these costs are charged only when probate is complete and the estate has been settled.

At Provira, we’re unique in only charging simple interest, not compound interest. This means, while interest on your loan is only paid back in full once probate is complete, you’ll pay less interest overall if probate takes longer than expected.

How can Provira help a beneficiary get an advance on an inheritance?

At Provira, we’ve helped hundreds of beneficiaries get advances on their inheritance. 

We make it a simple process for you to navigate as we understand we’re often meeting beneficiaries at an emotional time. 

By taking out our Inheritance Advance – also known as a beneficiary loan – you:

• Will get access to up to 50% of your inheritance within days

• Only pay simple interest, not compound interest, saving you money in the long run.

• Won’t face early repayment fees if probate completes sooner than anticipated

• Don’t have to worry about monthly repayments. The loan is simply repaid in full directly from the estate once funds have been released.

• Benefit from a dedicated underwriter assigned to your case to guide you through it from start to finish.

Our supportive, compassionate team is on hand for any question, big or small, to guide you through every step of the way. 

Ready to start your application? Fill out our form today.