Inheritance Advance is a new, private equity backed, financial product from Tower Street Finance (TSF), which allows beneficiaries to access a large proportion of their inheritance prior to completion of probate.
From the original concept developed by Martin Holdsworth, the Founder and owner of IDR Law, the Management team, led by Andrew Bartle (Founder of Lowell Group), secured private equity funding and with ongoing assistance and input from the IDR Law team, Inheritance Advance has secured its FCA licence to start offering this unique financial product.
Using Inheritance Advance, beneficiaries can access up to 60% of their inheritance, with no credit checks, repayments or charge over property – the repayments and interest are rolled up and paid directly from the estate upon completion of probate. IDR Law continue to provide the team at Inheritance Advance with training and underwriting support.
Martin comments – “Before the current COVID-19 pandemic, probate administration was already taking a year, on average, to complete. With Probate Registries on reduced staff and probate administration companies on reduced numbers, this delay will very likely be longer as we go forward. Research has already established that 1 in 3 adults are relying on an inheritance to pay off debt or provide for their inheritance/family. Again, COVID-19 can only have heightened the need of individuals and charities waiting on inheritance legacies. The Inheritance Advance concept makes a huge amount of sense and I can see a significant uptake of it.”
“I am delighted that a management team of the quality behind Inheritance Advance has been able to get the original idea out there and available to those who need it. The IDR Law team looks forward to continuing to assist TSF with their ongoing legal and training needs.”
More information and contact details can be found at https://towerstreetfinance.co.uk/
IDR Law is an approachable, boutique firm and the only one in the country dealing solely with inheritance dispute resolution. Whether you’re a law firm, or an individual who feels they would benefit from our expertise, get in touch here, email us at [email protected] or call on 01423 637050.