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Drawdown equity release calculator

Use this unique calculator if you want flexibility over accessing your money whenever it's needed, whilst saving yourself interest over the long term.

Drawdown equity release calculator


Drawdown lifetime mortgages are the most popular type of equity release plan. Once the lender has calculated the maximum they will lend you, this is placed in a ‘cash reserve’ facility with them. From this, a minimum of £10,000 can be withdrawn. Any unused cash left in situ, has the advantage of not being charged interest.

After the plan has started, you are then free to borrow as much as you like and as many times as you want to – until your cash reserve is fully used up. The minimum withdrawal is typically £2,000, which means you can take smaller amounts for lower expense items, without having to take more than needed.

Once set up with the lender, the money is usually received in your bank account in a couple of weeks. As interest is only charged on the amount you borrow (not on the cash reserve), this will reduce the final amount of interest to be repaid if you borrow in a series of drawdowns over time - rather than in 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 – which your local Equity Release Supermarket adviser will be able to talk through with you in detail.


More information on drawdown costs


There are no further administration charges when taking additional drawdowns. The interest rate charged on these withdrawals is the one applicable at that time - this therefore maybe different from your initial interest rate when you started the plan.

How much money could I release?

To get an idea of how much money you could release with our drawdown equity release calculator, we only need a couple of details as these are the basic criteria lenders use. These are -

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

Want to compare drawdown lifetime mortgages?

If you’d like more information on the range of drawdown lifetime mortgages that are currently available, then feel free to use our unique comparison tables where you can also request your own personalised Key Facts Illustration.

You’ll be able to see the plan interest rates and their features from all the lenders across the equity release marketplace.


This is a drawdown lifetime mortgage calculation. To understand the risks and features ask for your personalised key facts illustration.