Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

    Loan to pay an inheritance tax bill
    • #1
    • 29th Nov 05, 1:14 PM
    Loan to pay an inheritance tax bill 29th Nov 05 at 1:14 PM
    I have been told by my solicitor that, as an executor, I need to raise a loan to pay the inheritance tax owed on an estate before the application for probate can be sent in.

    The loan of £95,000 will only be needed for 4-6 weeks before probate is granted and will be secured on the assets of the estate.

    My bank has offered a loan with an arrangement fee of 1% and an interest rate of 3% over base.

    Are there less expensive ways of arranging this sort of loan?
Page 1
    • jonesMUFCforever
    • By jonesMUFCforever 29th Nov 05, 11:25 PM
    • 21,752 Posts
    • 9,340 Thanks
    • #2
    • 29th Nov 05, 11:25 PM
    • #2
    • 29th Nov 05, 11:25 PM
    I think that is a reasonable rate to be honest.
    Make sure that any bank/ building society accounts balances have been used to minimise the amount required. They will do this if executors request that the cheque from the balances are made out to the Inland revenue/Customs whoever collects the monies these days.
    What goes around - comes around
    give lots and you will always receive lots
Welcome to our new Forum!

Our aim's to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

4,730Posts Today

8,578Users online

Martin's Twitter
  • Got any questions about switching energy or paying your energy bills? Do let @itvmlshow and I know & ill try and answer it in next wks show

  • RT @andrewdewey83: @MartinSLewis I never knew switching was so easy, but this helped me to save over £200/yr, just by switching my British ?

  • Take 5 minutes to check if ur one of the 70% of people overpaying 35% on your energy bill typical saving £270/yr

  • Follow Martin