Our equity release comparison service helps you make an informed choice into which equity release schemes are currently the best deals in the UK market.
Drawdown lifetime mortgage schemes provide flexibility. They enable you to withdraw tax free cash, whenever you require it, from an overall cash reserve facility. The benefits are they save interest for yourself and your beneficiaries, and leaves you control over when and how much is taken.
Our drawdown equity release deals include free valuations, cashbacks and exclusively reduced interest rates – so request your quote today!
| Lender | Product Name | Type | APR | Incentive | Get Quote | More Info | |
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Equity Release - NO Early Repayment Charges 5.25% |
Variable |
5.30% |
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Aviva - Lifestyle Flexible Option 5.42% |
Fixed |
5.60% |
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Just Retirement - Roll-Up Lifetime Mortgage 5.92% |
Fixed |
6.20% |
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 |
Hodge Lifetime - Flexible Drawdown Plan - NO Early Repayment Charges 5.89% |
Fixed |
6.30% |
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newlife mortgages - flexible lifetime mortgage 5.99% |
Fixed |
6.30% |
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LV= Flexible Lifetime Mortgage 6.19% |
Fixed |
6.50% |
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more2life enhanced lifetime mortgage 6.78% |
Fixed |
7.10% |
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The drawdown equity release scheme is the most popular form of lifetime mortgage for a reason. Simply put, drawdown schemes allow you to take your tax free cash in stages, rather than in one lump sum.
This form of equity release plan works by the provider creating an initial cash reserve facility, calculated solely on your age & property value. You then decide how much of the cash is required from the outset. The amount you don't take is left in the reserve facility and stays there, interest free, until you require any additional funds in the future.
As interest is only charged on the money withdrawn, the equity release drawdown plan can save you and your estate £1000’s over the long term.
Drawdown can be particularly beneficial if only a small amount is required initially, but its known there will still be a need for additional funds in the future. This flexibility provides people with the peace of mind knowing that should an emergency arise, they always have a financial backup plan.
If you have any questions on any of the deals, or wish to speak to an equity release adviser please call Freephone 0800 678 5159.
These details are based on an example of a 65 year old male releasing £50,000 from a property value of £250,000. The plan is available subject to provider criteria.
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.