Re-Mortgaging
Remortgages
Instead of receiving a lump sum, you have a drawdown facility that allows you to withdraw funds in smaller amounts over time.

Financial Advice
With a lifetime mortgage, you have two options: lump sum or drawdown. With a lump sum mortgage, you receive a one-time payment of the released equity.
Remortgages
Buy to Let Mortgages Wakefield
Drawdown mortgages offer greater control over your finances and can be used to supplement retirement income or cover unexpected expenses.
Debt Consolidation
Lifetime mortgages are a type of mortgage specifically designed for homeowners aged 55 and above.

Debt
Additionally, as interest accrues over time, it can significantly reduce the equity remaining in your property.
Income
Retaining Property Ownership and Inheritance Planning: With a lifetime mortgage, you retain ownership of your property, enabling you to pass it on as part of your estate.

Drawdown Mortgages
Effect on Inheritance and Future Equity Growth: Taking out a lifetime mortgage reduces the value of your estate, which may affect the inheritance you plan to leave behind.