Draw Down Facility

This tends to be an option made available with so-called flexible mortgages. The lender will allow you to "draw" funds out of your mortgage account at any time during the mortgage term providing you do not increase the size of your borrowing over the previous mortgage advance.

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.

Get professional help from a qualified independent mortgage advisor and see how much you could save on your mortgage payments. There's no obligation, just plain good advice.

See also: Financial Services, Mortgages