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How Inheritance Advance works

defaqto 5 star rated for short term probate loan 2022

When someone passes away, it can be a very distressing time for everyone left behind. If you’re a beneficiary, you could be due an inheritance.

Unfortunately, your inheritance can be locked away in the estate and it takes around 12 months on average to receive it.

What would you do if you could access your inheritance today? Go on holiday, buy a new car, pay school fees, or buy that new home?

Now with Inheritance Advance from Tower Street Finance you can.

With Inheritance Advance, you can take up to 60% of your inheritance now, with the remainder received later, minus arrangement fee and any interest from the advance.

The advance, arrangement fee and any interest are repaid from the estate when it reaches distribution, and you receive the rest of your inheritance.

This means that with Inheritance Advance there is no risk, no credit checks, no monthly repayments, no need for a Will, no personal liability and no charge over property.

To give you peace of mind, we’re FCA authorised, we hold five-star Defaqto ratings and our customer service is rated excellent by Trustpilot.

Key Benefits

No risk
No credit checks
No monthly repayments
No requirement for a will
No personal liability
No charge over property

Why choose us

Inheritance Advance is a unique product, with nothing else like it on the market. Here are just a few reasons to choose Tower Street Finance for inheritance loans in the UK:

Fully regulated lender

We are fully regulated and authorised by the Financial Conduct Authority

100 years of experience

Our management team has over 100 years of experience in financial services, credit management and risk

Excellent customer service

We are rated ‘Excellent’ on the independent review site Trustpilot. You can see from the quotes below how a probate loan has helped some of our customers

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How Inheritance Advance Works FAQs

Who is Inheritance Advance aimed at?

An inheritance loan can be useful for beneficiaries of an estate where there will be a distribution of cash. If you can provide proof of ID and residence, you could be considered for a probate advance.

What can inheritance funding be used for?

If you’re waiting for inheritance to come through, it can sometimes be a long, drawn-out process. On average it takes a year to gain access, and in some situations that may be too long to wait – especially if you need to deal with pressing financial concerns. An advance gives you the option to receive some of your inheritance early, and the funds can be used to help with all manner of things, such as:

Paying off your mortgage
Clearing your debts
Financing home improvement projects
Going on holiday
Purchasing a new car
Putting down a deposit on a new home
Covering medical, veterinary or education costs

What happens if my inheritance is reduced?

If your inheritance is reduced – in the event of another beneficiary coming to light, for example – it will have no impact on you. Once you have received the advance, any subsequent changes to the inheritance are at our risk.

Can I get a probate loan with a poor credit history?

Yes. Your credit rating is not related to your ability to get some of your inheritance early. The advance is secured against the money you are due to receive from the estate. The only thing we will check for when you apply is an undischarged bankruptcy.

How quickly will I receive my inheritance loan?

That depends on the size of the advance. For anything greater than £60,260 you will normally receive the funds within 48 hours of being approved. If the amount is less than that, however, there will be a 14-day cooling-off period to make sure you still want to go ahead.

How do I get my inheritance early?

1
Free quote

Get your free, no obligation quote to find out what you may be able to advance

2
Easy application

Fill in our short application form or speak to our team to start the ball rolling. If we need any more information we'll get in touch

3
Clear offer

We provide you with all of the details you need to know about your advance to ensure everything is 100% clear and you are happy

4
Enjoy your advance

We send you your advance so you can begin enjoying your inheritance. You can now relax and we'll keep you updated as the probate process progresses

5
Receive the rest

When the estate arrives at distribution, your loan is repaid along with the interest and you receive the rest of your inheritance

The facts about Inheritance Advance in the UK

1 in 3 UK adults are relying on an inheritance

12 months is the average time it takes to access your inheritance

8 out of 10 people expect to leave an inheritance

£16,000 is the average inheritance per beneficiary

1 in 2 people in the UK have a Will

1 in 3 would like their inheritance quicker

Hear from those who’ve benefitted from an Inheritance Advance

“My aunt left everything to me in her will and although I’m 67 I’ve never owned my own home. I found a lovely little cottage and had my heart set on it but because I’m retired with no income I couldn’t take out a mortgage, so was relying on the inheritance and the estate was taking some time to be sorted but I really didn’t want to lose out.

“Tower Street Finance helped me out with an Inheritance Advance so I could secure my dream home and transferred the funds within 96 hours. I’m now a very happy first-time buyer!”

Get in touch about an Inheritance Advance

Our professional customer service team are here to help you with any queries you may have about Inheritance Advance. They can also take your application over the phone or you can apply online below.

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