Tower Street Finance was able to offer a speedy and efficient service to an IFA and solicitor for a case where a large Inheritance Tax bill was due within days, with no means to pay.
The deceased had left a complex estate to manage with commercial assets plus several properties both in the UK and abroad. With two executors involved (a solicitor and family member) and IHT liabilities and professional fees totalling £950k, the IFA who was managing the case was looking for a funding provider.
Tower Street Finance’s relationship support manager Sam Day said: “The client needed to move fast as the IHT bill was due imminently so the IFA was advised to contact us by the solicitor involved as we’d recently had a good meeting with them to talk about our offering.
“Even though there were more than 60 documents to process we were able to give a positive decision within 48 hours and offer our Estate Expense Funding product for the full amount. We’d have been even quicker but for the fact that the solicitor (the executor) was out of the office for a day! The HMRC bill was paid by us within a further 24 hours and the funding also covered the overseas IHT and professional fees.”
Find out more about our products and partnering with us at https://towerstreetfinance.co.uk/partner-with-us/ or call us on 0343 504 7100.
And you can find out more about our Estate Expense Funding product here https://towerstreetfinance.co.uk/estate-expense-funding/