UK equivalent for HELOC

[Deep Mukherjee]

Hey Everyone and thank you for reading my post; I appreciate it.

I am looking to find the UK equivalent of a HELOC (a Home Equity Line of Credit in the USA). The behavior of the product in the USA is described below.

In the USA, a HELOC:
1. Allows you to access 75% of your home's equity. (Say you bought a 100K home with 20k down, paid down the 80k mortgage by 10k and the home appreciated by 20k. Your total equity would then be: 20k +10k +20k = 50k. The maximum amount of the HELOC would be 75 % of this amount so: 37.5k).
2. It is simple interest only (since it is secured by the home). So if I drew 10K from the HELOC at 3.75% *simple interest*, the *annual* interest would be 10k times 3.75/100 = $375. My monthly interest would be 375/12 = $31.25
3. Once I paid back the 10K, I would be able to draw it back out again, repeatedly (revolving line of credit just like a credit card)
4. I would be able to make interest-only payments on my outstanding balance
5. I would be able to draw money from the HELOC for 10 years. (I could also make payments back into it)
6. After 10 years, I would no longer be able to draw money, but would have 15 years to pay back the balance

If you could please point me to similar products and lender's names in the UK, I would truly appreciate it!

Thank you,Deep