Inheritance Loans – Access Funds Fast (2026 Guide)

Dealing with inheritance can be a complex and emotional process, especially when funds are tied up in probate. Many are left wondering if banks offer inheritance loans as a way to access their share quickly. If you’re navigating this situation and looking for clear, practical advice, you’re in the right place.

Understanding Inheritance Loans

An inheritance loan, also known as a probate loan, is a financial product that allows heirs to borrow against their expected inheritance. This type of loan can be particularly useful when the distribution of an estate is delayed due to the probate process. The loan amount is typically based on the heir's share of the estate, and the lender is repaid once the probate is finalized and the estate is settled.

While traditional banks in Australia might not offer inheritance loans as a standard product, some specialised lenders do provide this service. It’s crucial to understand the terms and conditions of these loans, as they often come with higher interest rates and fees compared to conventional loans.

Key Information on Inheritance Loans

When considering an inheritance loan, there are several important factors to keep in mind, including interest rates, eligibility criteria, and available options from various lenders.

Interest rates for inheritance loans can vary significantly, typically ranging from 6.49% to 12%. These rates depend on the lender, the size of the inheritance, and the time expected for the probate process to conclude.

Eligibility criteria generally include:

• Verification of your heir status through legal documentation
• An estimated timeline for the probate process
• Details of the inheritance amount expected
• Sometimes, a credit check may be required

Options can vary widely, and it’s beneficial to consult with a mortgage broker like Esteb and Co, who have access to a network of 83+ lenders and can help identify the best option for your situation.

Lender	Interest Rate	Requirements
Lender A	6.49% - 8%	Credit check, legal documentation
Lender B	7% - 10%	Heir status verification
Lender C	9% - 12%	Estimated probate timeline

How to Secure an Inheritance Loan

If you decide that an inheritance loan is right for you, follow these steps to secure one:

1. Gather Documentation: Obtain all necessary legal documents proving your entitlement to the inheritance.
2. Estimate Probate Timeline: Work with the executor of the estate to estimate how long the probate process will take.
3. Consult a Mortgage Broker: Contact a broker, such as Esteb and Co, who can guide you through the available options from over 83 lenders.
4. Compare Offers: Review the loan offers, focusing on interest rates and terms to find the most suitable option.
5. Apply for the Loan: Submit your application along with the required documentation to your chosen lender.
6. Receive Funds: Once approved, the funds will be disbursed, allowing you to access your inheritance sooner.

Tips and Considerations

When considering an inheritance loan, keep these expert tips in mind:

• Evaluate Necessity: Assess whether you truly need immediate access to the funds or if you can wait for the probate process to complete.
• Understand Costs: Be aware of any fees associated with the loan, such as application fees or early repayment penalties.
• Plan for Repayment: Ensure you have a clear plan for how the loan will be repaid once the inheritance is received.
• Seek Professional Advice: Consulting with a financial advisor can provide additional insights into whether an inheritance loan is the best decision for your financial situation.

Frequently Asked Questions

Here are some common questions about inheritance loans:

1. Do all banks offer inheritance loans? Most traditional banks do not offer inheritance loans, but specialised lenders do. Consulting with a broker can help identify available options.
2. What happens if the inheritance is less than expected? If the inheritance is lower than anticipated, you may need to cover the difference to repay the loan.
3. Can I get an inheritance loan if there’s a dispute over the will? Disputes can complicate the process, and many lenders may be hesitant to approve a loan until the dispute is resolved.
4. How long does it take to get an inheritance loan? The timeline can vary, but typically it takes a few weeks to process once all documentation is submitted.
5. Are inheritance loans secured or unsecured? Most inheritance loans are unsecured, meaning they do not require collateral, though terms can vary by lender.