How a probate loan could help make things easier in these trying times

How a probate loan could help make things easier in these trying times

  • Post published:30th September 2020

Dealing with the death of a friend or family member is stressful and upsetting at any time, and while the UK is still in the grips of the Covid-19 pandemic it’s likely that these emotions will be even more heightened.

Add to that the fact that many are also suffering the economic effects of the pandemic and struggling financially because of redundancy or a failing business, bringing about another layer of stress and anxiety.

People who’ve lost a loved one and are set to benefit from an inheritance might see this as a way out of their money woes, until they find out how long the probate process can potentially take. But there is a solution…

You may have heard of a Probate Loan (sometimes called Probate Finance, Inheritance Loan, Probate Funding, Probate Advance or Probate Bridging Loan) but they are generally a re-badged standard Bridging Loan.

They also normally require you to wait until probate is granted before you can take one out. And this can take 9-12 months which isn’t much good if you need money more quickly.

Tower Street Finance’s Inheritance Advance product has taken the best features from other products on the market to design something which is available to a wider audience of people, and you don’t need to wait for probate to take one out.

The table below shows how the Inheritance Advance product compares with other products:

Inheritance Advance is superior to a Probate Loan as it does not require a credit check or charge over a property, and there is no risk to the customer.

Contact Tower Street Finance at www.towerstreetfinance.co.uk to find out more.