Equity Release – the drawdown facility
Prospect Mortgage Services provide independent, sound and honest advice for your mortgage and protection needs.
One of our lovely Equity Release customers had a medical crisis while on holiday abroad — expensive, stressful, and made worse in every way by a travel company whose “assistance” was about as helpful as a chocolate teapot.
Fair to say – Costs soared. Stress rose. Tan faded.
Thankfully, when we arranged their original Lifetime Mortgage, we’d built in a Drawdown Facility. A helpful little feature that works a little like an overdraft where funds are in place, prearranged, to draw in the future should you need them. They needed them – pretty swiftly!
Within days of returning home, he asked for our help and a few days later, the funds were available in the account — quickly, quietly, and without drama.
They’d be the first to say: the right advice and experience when setting up an Equity Release arrangement brings many benefits that can provide peace of mind further down the line… especially when life throws you a curveball.