A Drawdown Facility is the difference between the cash amount you took when you first applied for your lifetime mortgage, and the maximum amount you agreed with your adviser. You set up a Drawdown Facility when applying, so you only release the amount you need at the time. It's available with the Flexible or Optional Payment Lifetime Mortgages. If you have a Drawdown Facility available, it’ll be shown in the Offer of Loan for your lifetime mortgage. Taking money from your Drawdown Facility is a drawdown.   

We’re unable to guarantee availability of the Drawdown Facility. When you apply for a drawdown, we will carry out checks and there may be some circumstances where we withdraw your application or the option to apply for further drawdowns. We’ll tell you if we need to withdraw your Drawdown Facility and you can find further information on this in your Terms and Conditions

Further information on drawdown.
Request a lifetime mortgage drawdown