The drawdown facility is suitable for existing property investors and people looking to start property investment. It is also suitable for people running their own business who need to access cash.

Property Investors

The drawdown facility is used by property investors who need to access instant cash for a variety of property purposes. It is used for deposits to buy properties and deposits for investment mortgages. It can also be used for any refurbishment costs and is a safeguard to provide instant cash in the event of void periods. Many clients find it useful to provide deposits at auction or to stop in quickly when a sale or chain breaks down.

Business People.

The drawdown facility reduces a business’ dependency on it’s bank and the limitations that the banks often impose. If a business has cashflow problems, the owner of the business can access cash quickly; it is very useful with slow paying debtors, or if a business is expanding and needs a cash injections until sales come in. Other uses include using it to fund a deposit for premises purchase to reduce the impact on the businesses cashflow.

The drawdown facility is a line of credit secured on you house with a chequebook to access the funds. Cash can be withdrawn or paid in at anytime with no penalty.

Your home may be repossessed if you do not keep up repayments on your mortgage.