The Drawdown Option
👋 Welcome to Information Station 🚂 where we dive into the world of lifetime mortgage plans. If you're a homeowner 🏡 and you want to release funds from your property 💰, one flexible option you might consider is the "Drawdown" feature.
With the Drawdown option, you don't take one lump sum upfront 💼. Instead, you set up an initial amount and a reserve 💰.
The best part? You only pay interest on the money you've withdrawn 🌱, not the whole amount.
It's a smart choice if you want to manage your finances 💡 and control interest costs📊. Plus, you can keep your reserve for future plans and goals 🌟, avoiding interest costs on unused funds. Curious to learn more about Drawdown or other equity release options?
Drop me a comment 💬 or send me a message 📩. Your questions could be featured in my next video!
Thanks for tuning in to "My Information Station." Stay informed 🧠, and remember, knowledge is power 💪 when it comes to making decisions about your financial future. Until next time! 🚂
This is a lifetime mortgage. To understand the features and risks ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home, or you want your family to inherit it. If you are in any doubt, seek independent advice.
A fee may be charged for mortgage advice, the exact amount will depend on your circumstances.