Probate lender Provira launches inheritance advances in Scotland

Provira, a leading probate lender, has extended its inheritance advance and estate advance products to Scotland, offering financial relief to executors and beneficiaries navigating probate delays. This expansion follows a £25 million lending facility secured in July 2024 and a period of substantial growth, with Provira's loan book increasing by 250% and over £30 million in new loans advanced in the past year.

The company now offers two primary lending solutions in Scotland:

1. Estate Advance: Enables executors to pay inheritance tax and other estate liabilities before probate is granted.
2. Inheritance Advance: Allows beneficiaries to access their inheritance before probate is completed and assets are sold.

Managing Director Steve Gauke highlighted the rising demand for these services, driven by delays in securing probate and the need to meet inheritance tax deadlines. He noted that unpaid inheritance tax after six months can result in interest charges from HMRC, leading more executors to seek financial support from Provira.

Provira’s loans are based on the estate's value, not the individual's financial situation, making them easy to secure—often within a week. The average inheritance advance is around £40,000, while estate advances average £70,000, with some loans reaching up to £700,000. These advances help executors avoid penalties and meet tax obligations while beneficiaries access their funds without waiting for probate.

Provira’s entry into the Scottish market strengthens its position as a leading provider of probate financing. Gauke emphasised the company's commitment to supporting clients during emotionally charged times and praised the customer service efforts reflected in their high TrustPilot scores.