Return to the Mortgage Glossary Home to view explanations for all mortgage terms. What follows is the definition for the term Draw Down Facility as it relates to mortgages in the UK. Draw Down Facility Draw Down Facility refers to mortgages which have an allowance to take additional funds at a later date. A borrower then knows that they have got the facility to access more money in the future if they need it. Perhaps for home improvements.   Previous 10 terms < Discounted Mortgages < Deferred Interest Mortgage < Default < Credit File < County Court Judgements < Conveyancing Fee < Conveyancing < Contract Race < Conditional Insurances < Completion Next 10 terms Early Redemption Charge  > Endowment Mortgages  > Equity  > Essential Repairs  > Exchange of Contracts  > Existing Liabilities  > First Time Buyer  > Fixed Rate Mortgages  > Flexible Mortgage  > Flying Freehold  >