Interest only mortgages on rental props - IHT deductible?

I may be overthinking this, but here goes:

H&W have 4 rentals all with sizeable interest only mortgages but with a good amount of equity. If these mortgages are retained by the benefs (children), probably new mortgages put in place to discharge the original mortgages, with said rentals transferred to them as part of their inheritance, are those mortgages still IHT deductible as not strictly speaking discharged from the estate assets?

From what I’ve read on Practical Law this relates to IHTA s175. Practical Law suggest they would be IHT deductible as in that example, the benef has in effect received less due to the liability.

Thoughts welcome as always.

If, for example, the beneficiaries arrange for replacement mortgages lending the monies to the executors to enable them to repay the existing mortgages with the new borrowings secured against the estate properties then a deduction wrt the original mortgages is available.

In such cases the borrowings will have been paid out off the estate. The beneficiaries will inherit the properties albeit subject to the new mortgages.

See IHTM para 28028.
Malcolm Finney