For the benefit of anyone else who may run into the above problem, this is how I eventually resolved it.
Originally, I made the following two mistakes, which caused all sorts of problems
1. Connecting the RUT950 WAN to the Draytek 2925 WAN2
2. Setting Failover on both the Draytek and the RUT950
My working solution is as follows: I'm currently only using one SIM on the RUT950 and this is set up as Mobile(WAN)
Virgin Media Cable ------>WAN1 - Draytek 2925 - WAN2<------- LAN - RUT950 <------- 4G
The RUT950 connects to the Draytek WAN2 port via one LAN port, and a second RUT950 LAN port connects to my LAN, with a compatible alias, to enable monitoring and setup.
The Draytek WAN2 port is set with the following specific IP address
192.168.1.160/255.255.255.0 Gateway 192.168.1.1 so it can be seen by the RUT950 and use it as gateway.
Only the Draytek is setup in Failover mode, when WAN1 is off-line. With this configuration, the Draytek seems to only activate the WAN2 port when WAN1 is down.
I've had only limited opportunity to stress test this setup, so far but it looks promising
Chip