A drawdown lifetime mortgage allows you to drawdown funds from your home as and when you need it, rather than taking a single lump sum. After the initial release of funds you can drawdown additional amounts as and when required.
The main advantage of this option is you will only be charged interest on the money you have drawn down, making it is a more cost-effective option.
The funds are tax-free and allowing you to enjoy your home without having to sell up and downsize.
If you are interested in finding out if a draw down Equity Release mortgage is right for you call Lifelink on 01189 349800 and speak to one of our expert advisers, and receive your free consultation, no fees are payable unless you decide to proceed.