Ease the financial burden of estate administration
With Level’s Estate Expense and Inheritance Tax (IHT) Loan, executors can meet their financial responsibilities by unlocking estate funds to pay for IHT and other Testamentary Expenses.
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Why choose Level’s Estate Expense and IHT Loan?
Reduce your financial responsibility
As an Executor, you are personally responsible for paying IHT and other Testamentary Expenses. Fulfil your responsibilities by releasing liquidity from the estate, all without personal recourse.
Speed up the probate process
Assistance in meeting financial obligations. Avoid delays in the probate process and meet your legal responsibilities quickly.
Funds as and when you need them
Access funds to align with the administration process, only pay interest on the amount drawn down from your loan facility.
Calculate your IHT liability
Get an idea of your potential IHT Liability.
This is simplified calculator based on a simple IHT calculation. This should not be used in place of speaking with a qualified advisor to understand your inheritance tax liabilities. Level may be able to provide a list of solicitors in your area.
How does an Estate Expense and IHT loan work?
Our process is straightforward, and our friendly team is always on hand to guide you. Applications are free and we can usually offer a decision in principle within 1-2 working days.
Get a free, no-obligation quote from us with just a small amount of information about yourself and the estate you are an executor of.
Following a brief conversation with a member of our team, we will ask you to submit a full application online.
We may request additional information from you or the administrators for our underwriters to review.
A member of our team will then talk you through how the loan works and formally offer funding.
Once you have signed the documentation, the loan will be live and funds will be available to draw down.
The loan is set up as a draw-down facility, so you can request funds as and when you need them.
You will only pay interest on the amount drawn down, from the date that funds are transferred.
We will never make a payment without your or your estate administrators written approval.
If the loan is to be used for IHT, we will make the payment directly to HMRC once the loan is live. For any estate expense draw-downs, we pay funds directly to the professional administrator.
Interest is rolled up meaning there are no monthly instalments.
The loan itself becomes a testamentary expense of the estate. The administrator will repay it directly out of the estate assets before any beneficiary receives their settlement.
You can repay your loan early, in full or in part, at any time with no early redemption fees.
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020 7205 2870FAQ
No. It’s a key part of our security that a Solicitor (or other professional probate administrator) deals with the estate.
This is so we know that the estate administration will be handled professionally and that we don’t have to place any personal liability on you to repay the loan.
An Estate Expense & IHT Loan is available to executors and personal representatives who can’t fund the costs associated with administering an estate.
Unlike some traditional loans you do not need to own a home or go through extensive credit checks.
Yes, you have the option to do so. Often HMRC will only require you to cover 10% of IHT before allowing an estate to be administered.
Testamentary expenses are costs that an Executor or Personal Representative is obliged to pay as part of their duties. These may include paying for the Funeral, paying solicitors administration fees, paying for house clearances and maintenance, paying any insurance on properties in the estate and paying any sale costs for any assets (for example estate agent fees). Level’s Estate Expense & IHT Loan is designed to allow Executors and Personal Representatives to pay these costs, without having to use their own funds, or take out a personal loan.
You can use our Estate Expense & IHT Loan for Inheritance tax and any approved Testamentary Expenses associated with the estate including funeral costs, professional fees (such as probate, valuers, surveyors etc.), house repairs and maintenance, insurance, and house clearance.
Yes, we do not assess credit in the same way as most traditional lenders
If you can provide the documents required for our underwriting process, we can issue loan documentation within 24 hours. We can then distribute funds within a matter of days.
All of our loan facilities have a 2% administration fee. The interest rate can vary depending on the size and complexity of your loan.
