Drawdown lifetime mortgage calculator
A drawdown plan gives you an initial amount now and a reserve facility you can draw from later, in stages. The key point: interest only builds up on the money you have actually taken. The reserve sits there at no cost until you use it. This tool shows the difference that makes over time.
Balance after 15 years
£109,000
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This is an illustration, not a quote or advice. The figures assume a single fixed rate and that
the reserve stays untouched. Each later drawdown adds to the balance and starts accruing interest from the day you
take it, sometimes at the rate in force at that time rather than your original rate. A qualified adviser can confirm
how a specific plan works.