Drawdown Equity Release Advice
Want to release tax free cash from your home? Why not look at drawdown equity release options?
Drawdown equity release is just like a lifetime mortgage i.e. you can release the equity in your home without having to move.
However, with a drawdown plan, instead of requesting the full sum of money available to you immediately, you decide on a maximum amount of equity you want to release, and 'drawdown' the cash in stages when you want to.
Compare Equity Release Schemes
Advantages of drawdown equity release include:
- Choose to either make withdrawals as and when you need them or set up a monthly income
- You don't have to move
- You retain ownership of your home
There are also a number of disadvantages of drawdown equity release, including the fact that interest rates are usually higher on a drawdown equity release plan than they are on a standard lifetime mortgage, there are is often a minimum release amount and it can reduce the amount you leave as an inheritance.
Our no obligation equity release service can offer you independent advice about drawdown plans. Our specialist brokers will be able to talk you through your options and advice you as to what is the best course of action.