After probate is granted, it’s a bit of a waiting game with the banks. They typically take 10-15 working days to release funds once they’ve got the Grant of Probate in their hands, but don’t be surprised if the whole process from someone passing away to money being distributed takes several months. It’s a proper faff, to be honest, especially when you’re already dealing with grief.
Looking at the numbers, about 45% of banks cough up the funds within a fortnight of receiving all the probate paperwork. Another 30% take up to a month, and the remaining 25% drag their heels even longer, particularly with complicated estates. Most high street banks in the UK have different thresholds for when they need probate before releasing money – anywhere from £15,000 to £50,000, with Nationwide being one of the more generous at £50,000.
Table of Contents
How Long Does It Take Banks to Release Money After Probate?
When someone pops their clogs, their bank accounts get frozen sharpish once the bank hears about it. It’s a bit of a pain but it’s there to stop any dodgy dealings while everything gets sorted.
If you’re dealing with this in places like Harrogate or Inverness, here’s roughly how it goes:
You tell the bank (accounts get frozen right away)
You gather up a load of paperwork (death certificate, ID, will if there is one)
You apply for probate if needed (depends how much money we’re talking about)
Wait for the Grant of Probate (usually 2-8 weeks if the tax folks don’t drag their feet)
Send the Grant to the bank
Bank does their checks
Money gets released (10-15 working days later)
I was chatting to Sarah from Hampshire last week. Poor love was in a right state about her dad’s house while waiting for probate to come through. “The banks were holding onto Dad’s money, and I just didn’t know what to do with the property,” she told me. We were able to offer her a guaranteed house sale that sorted her immediate cash worries. We buy any house regardless of condition, which was a weight off her mind during an already difficult time.
Do banks ever release money without probate?
Yes, they can do, though every bank has their own rules about it. Usually, they’ll release smaller amounts without making you go through the whole probate rigmarole if:
The account has less than their threshold amount (usually between £15,000-£50,000)
It was a joint account with a surviving spouse
You need to pay for the funeral or settle inheritance tax
Here’s what the main banks tend to do:
| Bank | How much they’ll release without probate | How long it usually takes |
|---|---|---|
| Nationwide | Up to £50,000 | 10-14 working days |
| Barclays | Up to £50,000 | 7-10 working days |
| HSBC | Up to £20,000 | 5-10 working days |
| Santander | Up to £25,000 | 10-15 working days |
| NatWest/RBS | Up to £25,000 | 7-10 working days |
When you ring the bank, make sure you ask them straight up about their particular limits and exactly what bits of paper they’ll want from you to get things moving.
I’ve got the Grant of Probate now – how long until I get the money?
Once you’ve got probate sorted and shown it to the bank, you’re looking at about two weeks before they release the money. But if you’re a beneficiary waiting for your share, it might be a bit longer because the executor still has to:
Collect all the assets and maybe sell some things
Pay off any debts
Sort out the tax
Do all the admin bits and bobs
Divvy up what’s left
James from Surrey gave me a call last month, totally fed up with waiting. “The banks were taking ages even after we got probate, and I was still having to keep Mum’s house ticking over,” he said. We were able to help him with our ‘we buy any house’ service, taking the property off his hands quickly so he could move forward. Sometimes a guaranteed sale is just what you need when everything else feels up in the air.
How do banks handle the accounts of someone who’s died?
Banks have a whole procedure they follow:
They freeze individual accounts as soon as they’re told about the death
They ask for the death certificate and ID from whoever’s sorting everything out
They check the executor has the right to deal with things
Joint accounts usually stay open for the other person to use
They cancel all the standing orders and direct debits
They send final statements and confirm when accounts are closed
What happens to debts when someone dies?
Debts don’t just vanish when someone kicks the bucket, I’m afraid. They need to be paid from whatever’s in the estate before anyone gets their inheritance. Here’s the order things typically get paid:
Secured debts like mortgages
Funeral costs
Admin costs like probate fees
The taxman
Unsecured debts like credit cards
Interest on all the debts
Everything else after that
Good news is, you’re not personally on the hook for the debts unless you’ve specifically agreed to be or if you’ve made a hash of managing the estate’s assets.
We had a chap from West Sussex ring us recently – he’d inherited a house with a whopping great mortgage on it. We buy any house, even those with financial complications, so we were able to sort him out with a guaranteed sale.
Who’s responsible for sharing out the money after probate?
The executor (named in the will) or administrator (if there’s no will) is the one who has to dish out the dosh. They need to:
Round up all the assets
Pay off debts and tax
Work out what each beneficiary should get
Hand out what’s left according to the will or intestacy rules
Keep proper records
Try to get it all done within a year (known as the Executor’s Year)
What’s this Executor’s Year everyone talks about?
The Executor’s Year is the 12 months that executors officially have to sort out an estate. But let’s be honest, complicated estates often take longer. After this year is up:
Outstanding legacies technically start earning interest
Beneficiaries might start asking awkward questions about delays
Executors need to explain why things are taking so long
Courts might get involved if there are silly delays
Linda from Kent who was having a nightmare with her aunt’s executor. “It was taking forever, and I was really struggling financially,” she wrote. Once the property was finally released, we were able to buy it quickly, which took a massive weight off her shoulders. At Property Saviour, we understand these challenges and offer compassionate solutions – we buy any house, regardless of the situation.
How long do investment funds take to release money after probate?
Banks are usually quicker off the mark than investment funds. While banks typically release money within a couple of weeks, investment funds often take 3-6 weeks after getting all the probate paperwork. This is because:
They might need to sell stocks and shares
They have extra verification hoops to jump through
There’s loads of ownership transfer paperwork
They might be waiting for the right market timing
Their admin teams work at a snail’s pace
How long will it take to access money after probate for different types of estates?
It really depends on how complicated the estate is:
For straightforward estates (just some bank accounts, no property):
Getting probate: 3-6 months
Getting money after probate: 2-4 weeks
Total wait: 4-7 months
For middling complicated estates (a house, some investments):
Getting probate: 6-12 months
Getting money after probate: 1-3 months
Total wait: 7-15 months
For proper complicated estates (multiple properties, business interests, trusts):
Getting probate: 1-2+ years
Getting money after probate: 3-6+ months
Total wait: 15-30+ months
John from Canterbury rang me just last week about his father’s estate: “The probate process has been going on for over a year because of all Dad’s investments. I’m at my wits’ end!” We were able to offer a guaranteed house sale that gave him some immediate funds while waiting for the rest to come through. As a reliable cash house buyer, we buy any house, which can be a godsend when you’re stuck in probate limbo.
How Property Saviour Can Help After a Bereavement?
While banks usually cough up within 10-15 working days after seeing the probate papers, the whole process from someone passing away to beneficiaries getting their hands on the money can take months or even years depending on how complicated things are. It’s just one of those things that requires patience, I’m afraid.
If you’re dealing with a property as part of an estate anywhere else in the UK, remember that we buy any house with our guaranteed sale service. As a reliable cash house buyer, we can offer certainty during what’s often a really uncertain time, sometimes completing in as little as 7 days. Give us a bell at Property Saviour if you need a sympathetic ear and a practical solution to property challenges during probate.
Losing someone is hard enough without property hassles on top. As a compassionate we buy any house service, we specialise in these tricky situations.
We offer:
Cash purchases once probate’s granted
Flexible timelines (we’ll wait for probate, unlike most buyers)
We’ll buy properties in any state (even if they’ve gone downhill during probate)
No estate agent fees or hidden costs
If you’re sorting out a deceased relative’s property anywhere else in the UK, our property buying company can provide a guaranteed sale once you’ve got the legal authority to sell.
Sell with certainty & speed
Property Saviour Price Promise
- The price we’ll offer is the price that you will receive with no hidden deductions.
- Be careful with ‘cash buyers’ who require a valuation needed for a mortgage or bridging loan.
- These valuations or surveys result in delays and price reductions later on.
- We are cash buyers. There are no surveys.
- We always provide proof of funds with every formal offer issued.
We'll Pay £1,500 Towards Your Legal Fees
- No long exclusivity agreement to sign because we are the buyers.
- You are welcome to use your own solicitor.
- If you don’t have one, we can ask our solicitors for recommendations.
- We share our solicitor’s details and issue a Memorandum of Sale.
Sell With Certainty & Speed
- Our approach is transparent and ethical, which is why sellers trust us.
- 100% Discretion guaranteed.
- If you have another buyer, you can put us in a contracts race to see who completes first.
- Complete in 10 days or at a timescale that works for you. You are in control.
