Drawdown Lifetime Mortgage

Purchasing Insurance is One of the Best Ways to Use Capital From Drawdown Equity Release Schemes

Equity release is a secured loan obtained against a property like any other residential mortgage; however, the main difference is that you are not required to make any monthly repayments of the capital loan sum. Security of tenure is therefore an important consideration for any applicant. This reassurance is provided by the industry trade body known as SHIP or the Safe Home Income Plans. You have multiple options with equity release such as drawdown equity release, lifetime mortgage, interest only lifetime mortgage, enhanced lifetime mortgage and home reversion.

The lifetime mortgage is one of the most common equity release schemes […]

Why is the Drawdown Lifetime Mortgage popular?

If you are looking for a flexible approach to equity release, a drawdown lifetime mortgage may be just what you are looking for. A drawdown lifetime mortgage allows you to determine when and how you will take the money received from an equity release scheme. You will be provided with a cash reserve facility from which you are allowed to make an initial withdrawal of your choice. The remaining amount is held in the reserve facility for future needs. The principle of the drawdown equity release is based upon the fact that you would only withdraw money from your cash […]