Example: using drawdown
After many years of hard work, Jan and Bill have both just retired. They are in good health and intend to make the most of their free time. They have three trips planned over the next five years.
They intend to take out a lifetime mortgage, but as they do not need the funds for all three trips immediately, it may make sense for them to use a drawdown facility and reduce the amount of interest payable overall.
CeRER26 2.4.4 Example 3: using drawdown
LTs for LIBF
Created on February 11, 2026
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Transcript
Example: using drawdown
After many years of hard work, Jan and Bill have both just retired. They are in good health and intend to make the most of their free time. They have three trips planned over the next five years. They intend to take out a lifetime mortgage, but as they do not need the funds for all three trips immediately, it may make sense for them to use a drawdown facility and reduce the amount of interest payable overall.