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Quickly Compare 200+ Drawdown Equity Release Plans

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Summary of Equity Release Quotes Summary of Equity Release Quotes

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How Much Can I Release? Arrange a free call back
How Much Can I Release? Arrange a free call back
Please be aware that equity release will involve a home reversion or a lifetime mortgage, which is secured against your property and will reduce the value of your estate and impact the funding of long-term care. To understand the features and risks, ask for a personalised illustration. Equity release requires paying off any existing mortgage. Any money released, plus accrued interest is then repaid upon death, or moving into long term care.

Testimonials

Very professional, kept me up to speed regularly and helped me every step of the way. Making it a completely painless, swift process.
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Mr Holman
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Brilliant service. Put us at ease, explaining everything to us so we really understood the process. We have been kept up to date with everything.
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Mrs Terry
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Frequently asked questions

What is a drawdown equity release plan?

A drawdown equity release plan, more commonly referred to as a drawdown lifetime mortgage, enables you to access your property wealth by unlocking a cash lump sum from its current value. It is different to a standard equity release plan because your lender will agree an overall amount of money that you can borrow, and is set aside for you. You can release an initial lump sum at the start of your plan, and then withdraw further amounts from the available funds in stages.

How much can I borrow?

The maximum amount you can borrow depends on your age, the value of your property and if you have any qualifying health or lifestyle conditions that might entitle you to a higher release. Generally, homeowners can release up to 55% of your home’s value, but your equity release adviser will be able to tell you exactly how much you could unlock.

How much does it cost?

The amount of interest you are charged on your drawdown lifetime mortgage plan depends on how much money you unlock from your home, the interest rate/s applied to your loan, and for how many years you have the plan.

Drawdown equity release plans (also known as drawdown lifetime mortgages) can save you money compared to a standard equity release plan, because you are only charged interest on the money that you ‘draw down’ from your available facility. You don’t need to make any monthly repayments on your plan as the interest is rolled up on a monthly basis and added to your original loan amount.

Will I still own my home?

Yes, you will still own your home. You also have the guarantee that with all Equity Release Council approved plans, you have the right to remain in your home until you pass away or move into long-term care. It is at this point that your home is sold and the original loan amount plus interest is repaid. Any remaining money is returned to you or your beneficiaries.

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@2024 Equity Release UK

Equity Release UK is a trading style of Comparison UK Limited and is a non-advised business, that connects you to Financial Conduct Authority regulated equity release specialists who will help you compare the best quotes from the UK's leading equity release providers.

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Client testimonials refer to the service provided by our selected equity release advisers. To protect the privacy of clients, names and identifying details have been changed.

Initial advice is free - more information on fees can be found in our Terms and Conditions.