What are probate loans?

Probate loans are a type of loan that can be used to access funds from an estate that is in probate. Probate is the legal process that takes place after someone passes away, and it involves the distribution of their assets according to their will or state law. However, probate can be a lengthy process. It can take months or even years for the assets to be distributed. Probate loans offer a solution for individuals who need immediate access to cash while they wait for the probate process to be completed.

Probate loans are typically secured against the assets of the estate, which means that the lender will only provide the loan if they believe that the estate has sufficient assets to cover the loan. The loan amount will depend on the value of the estate, and the interest rate will be based on the perceived risk of the loan.

What are the benefits of probate loans?

One of the key benefits of a probate loan is that it provides quick access to cash. This can be particularly helpful for beneficiaries who are struggling to cover living expenses or other costs while they wait for the probate process to be completed. The loan can be approved and disbursed within a matter of days, providing a quick and easy source of funding.

Another benefit of probate loans is that they can help to level the playing field between beneficiaries. In some cases, one beneficiary may need immediate access to cash, while others may be content to wait for the probate process to be completed. A probate loan can provide the necessary funds to help the disadvantaged beneficiary cover expenses, ensuring that all beneficiaries are able to pursue their fair share of the estate.

What are the risks associated with probate loans?

It is important to carefully consider the costs and risks associated with probate loans before taking one out. These loans typically come with high interest rates, which can add up quickly over time. Additionally, if the final distribution of the estate is lower than expected, the borrower may be left with a significant amount of debt that they are unable to repay.

How are probate loans useful?

In conclusion, probate loans can be a helpful tool for beneficiaries who need immediate access to cash while they wait for the probate process to be completed. However, it is important to carefully consider the costs and risks associated with these loans and to work with a reputable lender. By doing so, beneficiaries can receive the funding they need to cover expenses and pursue their fair share of the estate with greater ease and confidence.

Are you looking for a probate loan? Our sister company could help. Call our freephone number above to find out more.

Enquiring is easy

It takes 30 seconds.

Simply fill out the form above, or call us to discuss your needs now.

Our team of experts are there for you.

You'll deal with the same experienced advisor throughout your enquiry.

We can get you the funds you need, fast.

You could get a lending decision in just one call.

Our flexible approach


We are proud to be a lender who can deliver loans at a fast approach, to consumers. We make this possible by carrying out our own legal checks, in house for loans under 100k, within hours. We can offer automated valuations, which are available to produce financial solutions in an instant.

Mercantile Trust regularly help their customers carry out renovations with heavy refurbishment loans, by providing finance fast.

No minimum income

At Mercantile Trust, we put our customers at the forefront of what we do.

We offer top slicing, where we can use your personal income when carrying out affordability calculations. If your rental income does not cover your mortgage repayments, we will top up the remaining amount that you cannot cover so you are able to get the loan you require.

No Exit Fees

We want you to be in control of your finance.
With no early repayment or exit fees, Mercantile Trust will strive to find a loan to meet your financial requirements.

Our bridging loan criteria

We aim to help absolutely everyone, however there are certain criteria that must be met in order to make a successful application:

  • Unregulated bridging applications only
  • Rates from 0.99%
  • Up to 75% loan to value
  • Most property constructions accepted
  • No personal income requirement
  • No exit fees
  • Minimum property value £75k
  • Minimum advance £25k max £500k
  • Confirmation of exit required
  • Minimum of one buy to let or residential property required
  • Serviced and rolled interest available
  • No ERC (Early Repayment Charge)
  • First and second charge available