Drawdown Plan is one of the three main types of equity release schemes offered by Expert Equity Release. The other two is Lifetime Mortgage and Home Reversion Plan. First, we will give you some information about Lifetime Mortgage and Home Reversion Plan after which, we will focus on Drawdown Plan because as we all know, Drawdown Plan is the most popular type of equity release plan compared to the Lifetime Mortgage and Home Reversion Plan.

First is the Lifetime Mortgage. This type of plan enables you to release a lump sum amount from your property without monthly repayments and the amount released is 100% tax free. The amount released plus the interest will only be paid following your death or if you plan to permanently move out from the property. 
Second is the Home Reversion Plan. In this plan, you agree to sell just a part or all of your property to a third party. In doing so, you can
get a tax free lump sum or a regular income from it. It’s all up to you how you would want to get your money from it. By doing so, you can still live in your property for the rest of your life. So there are no worries that you will not have a home in the event that you sell all of your property to a third party.

Third is the Drawdown plan. This type of plan is just like your Lifetime Mortgage Plan. In Drawdown Plans, you have increased flexibility and this is the reason why a lot of people choose this type of plans. In this plan, you can either take your money in periodically or in regular monthly income. You can draw down cash in stages and only when you require it. This means that the only interest that you will be going to pay is the amount of equity that has already been released. Accumulation of interest will be much slower compared to the other equity schemes. Keeping your accrued interest to a minimum can really help in saving for your future.
If you have questions about equity release loans, feel free to visit us at www.expertequityrelease.co.uk. In Expert Equity Release, we have different types of release loans which can help you in your plans of releasing equity. We would be very happy and ready to listen to you and give you advice when it comes to equity release loans.
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