Covid 19 Status

In line with HM Government requirements to fight the spread of Covid-19 we have measures in place to ensure that we protect our staff, their families and the wider community, but also to ensure that there is minimal disruption to our customers.

Your access to online Multi Agency Credit Reports, Expert Help and Account Management remains unaffected. We take great pride in the support that we provide to our customers and throughout this period will do all we can to minimise the impact on our services. While the country remains in lockdown we will continue to support your queries via a dedicated and experienced team that will be securely working from home, and supported by a Management Team that will continue to be based at our head office and who will be able to provide customer support as required.

The security measures that we have in place to protect your Personal Data, in line with our Privacy Policy, will mean that some elements of our personalised support are affected during this period as our support team will be working with anonymised data when working remotely. Freephone access to our Credit Analysts has been removed during this period while we focus our efforts on continuing to reply to all of your emails and secure messages within one working day.

Thanks for your understanding, and we hope to have full customer support available as soon as possible and wish you well during these challenging times.

Drawdown Loan

What is a Drawdown Loan?

A Drawdown Loan (sometimes known as a Drawdown Facility) is a loan which enables you to take out Further Advances with very little formality.

Put simply, a Drawdown Loan allows you to borrow 'in chunks' and repay the full amount borrowed, rather than taking out a loan for a larger amount that you do might not need and paying more in interest than is necessary, or taking out an amount too small that doesn't quite cover the amount needed.

They are a common option with flexible mortgages, allowing you to `draw` funds out of your mortgage account at any time during the mortgage term, providing you don`t increase the size of your borrowing over the previous mortgage advance. This is an option that can also be applied to self-build mortgages.

As a borrower it means you have access to borrowings in the future without having to resort to a remortgage or filling out reams of paperwork. You have the reassurance that you have the facility to access more money in the future if you need it, perhaps for home improvements. The downside is that any money borrowed is secured against your home, as with the rest of the mortgage.

Jargon Buster

Use the links below and the resulting list of terms on the right to locate the term you are looking for. If you can't locate it, please get in touch.

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