A complete guide to Inheritance Advances
Inheritance Advances exist to help beneficiaries access a portion of their inheritance early, often months before probate is complete.
When a loved one passes away, you might think that your inheritance will arrive soon after. Unfortunately for many people across the UK, the reality is often very different.
Probate can take many months and sometimes more than a year to complete, leaving beneficiaries waiting for money that legally belongs to them.
For those who need access to funds sooner, an Inheritance Advance can help. Inheritance Advances allow beneficiaries to access up to 50% of their future inheritance early, relieving financial pressure at an already difficult time.
To understand more, this guide explains exactly how inheritance advances work, who they are for, what they can be used for, and how Provira can support you through the process.
What is an Inheritance Advance?
An Inheritance Advance is a type of loan that allows you to receive a percentage of your inheritance early. In the UK, probate can take many months, sometimes over a year to complete. And before it does, beneficiaries can’t receive a penny of their inheritance.
For many, this wait comes at an already difficult time. However, instead of waiting for probate to complete, with an Inheritance Advance, you can release the funds early. When the estate is finally settled, the lender is paid back directly by the executor, so you never need to worry about paying it back yourself.
It’s important to note that an Inheritance Advance is not like a regular loan. You don’t need to go through a credit check, there are no monthly repayments and you don’t have to put down any of your personal assets as collateral. The amount of money that you can receive is based only on the amount that you are due to inherit when the estate is finalised.
With Provira, we help beneficiaries access up to 50% of their future inheritance within just a few days. Our expert team works quickly and professionally, so you never have to worry about complicated terms or forced repayments.
Speak to the team or fill in this form to apply for an Inheritance Advance today.
Why do people apply for an Inheritance Advance?
Everyone’s situation is different, which is why Inheritance Advances are used for a wide range of reasons. Once the Advance comes through, you can spend it however you’d like with no restrictions.
Our clients have used Inheritance Advances for:
- Paying household bills or living costs.
- Paying school fees.
- Taking a holiday for some self-care.
- Paying off long-standing loans or mortgages.
- Paying medical bills
Or simply, reducing financial stress during an already difficult emotional time.
How do Inheritance Advances work?
The process of applying for an Inheritance Advance is designed to be as easy as possible.
At Provira, each of our clients has a dedicated underwriter throughout the process, on hand to answer any questions or queries.
Here is a typical journey with Provira:
- You contact Provira through the form here, and confirm you are a beneficiary of an estate in probate.
- Our team reviews the estate details and speaks to the executor about your inheritance entitlement.
- We present you with a clear offer, explaining how much you can receive and how much it might cost you throughout the loan terms.
- You get the money paid directly to your bank account, often within days.
- When probate is complete, Provira is paid back first from the estate before you receive the remaining funds.
There are no monthly payments to worry about and it doesn’t have any impact on your credit history. If the estate takes longer than expected to settle, that’s fine too, we work on a flexible plan with no set repayment terms.
[Get a free inheritance advance quote today]
How much money can you access with an Inheritance Advance?
The amount you can access with an Inheritance Advance depends on how big the estate is and how many other beneficiaries are named in the will. At Provira, we offer our clients up to 50% of their expected inheritance, allowing them to access a large portion whilst they wait for probate to complete.
Who are Inheritance Advances for?
An Inheritance Advance may be for you if you are a beneficiary waiting for probate to be completed and you need money quickly to relieve financial pressure.
Advances are available pre-probate and post-probate, regardless of whether or not the deceased has left a valid will.
If you are unsure whether an advance is right for you, Provira’s friendly team can talk you through the options without any commitment.
[Discuss your situation with Provira today]
How much does an Inheritance Advance cost?
Applying for an Inheritance Advance is completely free, however, lenders will usually take a small fee for processing the loan. At Provira, this sits at 1-2% of the loan value.
On top of that, you will be charged a small amount of interest each month, usually 1.5-2% of the loan amount. However, this is only repaid at the end of the loan term, not monthly.
That way, you never have to worry about monthly payments. When the probate process is complete, the solicitors will pay us back directly; you don’t even need to lift a finger.
Can you apply for an Inheritance Advance if the other beneficiaries don’t want one?
Absolutely! Inheritance Advances are based on your portion of the estate, not the estate as a whole, meaning that each beneficiary can apply individually. We understand that different beneficiaries have different financial pressures, so each case is dealt with separately.
The good news is that your Inheritance Advance doesn’t affect any other beneficiary and vice versa, so you can decide whether you want to proceed on your own.
Why choose Provira for your Inheritance Advance?
At Provira, we are proud to be the UK’s most trusted Inheritance Advance provider. Our compassionate team are with you every step of the way so that you can access your inheritance quickly.
Beneficiaries rely on us because:
- We move fast, with decisions in as little as 48 hours
- We do not ask for credit checks or personal guarantees
- We handle communication with the estate where needed
- We make sure our clients understand the terms clearly so they never feel anxious about taking out the loan
- We are with our clients every step of the way
We understand how stressful waiting for an inheritance can be. At Provira, we are here to make the process easier and more comfortable for you.
[Start your Provira application now]
Are Inheritance Advances worth it?
If you are waiting on inheritance funds you need quickly, an Inheritance Advance can offer you a way to release some financial pressure.
Whether you are just exploring your options or ready to move forward, Provira is here to support you.
Contact us today for a free, no-obligation conversation with our team so you can understand how quickly you can access your inheritance.
