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Drawdown Equity Release




How to use the drawdown equity release calculator

For an estimate of the maximum you could borrow with a drawdown lifetime mortgage, simply input:

  • the value of your property (which must be a minimum of £70,000 and in the UK)
  • the age of the youngest homeowner (which must be at least 55)
  • your postcode

This is the criteria that lenders use when deciding how much money you can borrow.

Your drawdown equity release calculator results are shown instantly in an easy-to-read table.


An introduction to drawdown lifetime mortgages

Drawdown lifetime mortgages are the most popular type of equity release plan.

Once the lender has determined the maximum they will lend you, this money is placed in a ‘cash reserve’ facility with them. Initially you must borrow a minimum of £10,000 from your ‘cash reserve’. After that, you are free to borrow as much as you like, as many times as you like – until your cash reserve is fully used.

The minimum additional borrowing is typically £500, which means you can take smaller amounts for less expensive items, without having to take more than needed.

There is no additional charge for making withdrawals, however, you’ll be charged the current interest rate, which may be different from the interest rate at the time you first borrowed. Once your drawdown request is received and processed by the lender, the money is usually paid into your bank account within a couple of weeks.

As interest is only charged on the amount you borrow (not on money in your cash reserve), you can reduce the final amount of interest to repay, if you borrow in a series of drawdowns over time - rather than one large lump sum.

If you are claiming any means tested benefits, a drawdown lifetime mortgage may not affect your claim, as the amount borrowed could be managed to keep under eligibility thresholds. Your local Equity Release Supermarket adviser will be able to talk this through with you in detail.

Want to compare drawdown lifetime mortgages?

Research the range of drawdown lifetime currently available using our ‘Compare Equity Release Deals’ functionality – a tool that’s only available at Equity Release Supermarket.

You’ll be able to view all the drawdown lifetime mortgage interest rates, along with their features and any offers from all lenders across the equity release marketplace. Alternatively, try our free intelligent smartER research tool, which allows you to conduct your own research on drawdown plans across the whole of the later life market.


Let’s make it personal

Your drawdown equity release calculator results may not be what you were expecting, but it’s important to remember they are only a guide. Your local expert adviser is on hand to answer all your questions and find the right plan for you. If you’re ready, why not call them now?



This is a lifetime mortgage calculation. To understand their risks and features ask for a personalised illustration.