Four ways to spread the cost of a funeral

Trees surrounded by graves

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Working out how to pay for a funeral can add extra stress at an already difficult time. Whether someone has died suddenly, or you simply haven’t thought about funeral arrangements before, you might find that you need to look for flexible ways to cover the costs.

At Poppy’s, we’re here to listen to you and to help you explore funeral options that fit your budget as well as meeting your needs and wishes.

We don’t sell set funeral packages so, with us, you’ll only pay for the things you choose. We can help you find ways to bring funeral costs down, without any pressure to spend more than you are able to. We love a challenge to be creative.

For example, using your own car, choosing flowers from your garden, or decorating a simple cardboard coffin can be just as — or more — personal and meaningful than more expensive choices. Read more ideas here.

Even if you make lower cost choices, there will always be some funeral expenses that need to be covered. If you are struggling to afford funeral costs, you can find details of government, charitable grants and advice services in this recent blog.

However, it may simply be a question of timing and flexibility. You might be able to pay the full costs, but need or want to pay for the funeral over a longer period of time, instead of upfront. This blog covers some options available for flexible finance.

1. Paying from the bank account of the person who has died 

If there is enough money in their bank account, an invoice from a funeral director is the one bill that can be paid from the account of a person who has died.

However, it can still take a while. If you need an invoice to present to the bank, let us know as we can raise one quickly. 

2. A personal loan 

An unsecured personal loan may be one of the most cost-effective ways to borrow to fund a funeral and there are many options available. Money Saving Expert has guidance on how to choose a loan provider and the lowest interest rates available.

You will need to decide what period you want the loan over and how much you can afford in monthly repayments. 

3. A specific funeral loan 

Poppy’s is an appointed representative for Funeral Safe who offer unsecured personal loans specifically for funerals. 

  • Their online application process is easy and we can support you to complete it. 
  • Part or all of the funeral can be funded, from £500 to £10,000, with repayments over 12 months to five years. 
  • Rates are from 10.75% to 27.9% APR. 
  • Approvals can be made on the same day of application. If you are approved for a loan, Funeral Safe will confirm directly with Poppy’s that payment will be made.
  • You will have a three month period with no scheduled repayments and no interest will accrue on your account. During this time, you can settle your account at any time and at no extra cost.
  •  After three months, your chosen monthly payment plan will start, including the applicable interest rate for your finance agreement. 

Funeral Safe Limited are the lender and are authorised and regulated by the Financial Conduct Authority. 

4. Paying from the estate of the person who has died 

If there isn’t enough money in the bank accounts of the person who has died, but there are assets, such as a house, you can take out a loan against the assets in their estate.

The loan is secured against the estate, which means it is not in your name and is not dependent on your credit record. 

Tower Street Finance offer this service. You will need a solicitor who is instructed to handle the estate of the person who has died.

However, it’s not a quick option — the process can take four weeks or longer depending on the complexity of the estate. 

What you need to know about spreading the costs of a funeral

Poppy’s cannot provide financial advice. You should research the options available to you fully and make a decision right for your circumstances.

A financial advisor or an organisation like debt advice charity StepChange can provide independent advice. 

However you choose to pay for your funeral, Poppy’s will require payment in full (or written confirmation of payment from an approved provider) three full working days before the funeral. 

Use our online estimator to work out the cost of a funeral or contact us on 020 3589 4726 to ask any questions.

To stay in touch with all the latest news and updates from Poppy's by email, sign up here or contact us if you need help planning a funeral.

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