Drawdown schemes are a welcome innovation to the equity release market & are also a popular method of releasing equity. Their prominence has also been assisted by the fact that interest rates have now become much more competitive.
Drawdown schemes are based on the principle of `roll-up`. However rather than taking funds in a single withdrawal, drawdown enables you to take it in stages.
For equity release products, we can be paid by commission, a fee, or a combination of both. Our typical fee is £595.
EQUITY RELEASE MAY INVOLVE A LIFETIME MORTGAGE OR A HOME REVERSION PLAN. TO UNDERSTAND THE FEATURES AND RISKS, PLEASE ASK FOR A PERSONALISED ILLUSTRATION.
A LIFETIME MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.