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A drawdown scheme allows you to take an initial tax-free lump sum and the rest of the money is left with the lender in an interest-free ‘cash reserve facility’. The money will remain there until you choose to withdraw it – this can be done as frequently as you choose. You will not be charged any additional fees when you request to withdraw funds.
For more information on Drawdown Plan Home Equity Release talk to Dolphin Loans & Mortgages Ltd
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