Drawdown application form

The minimum amount you can drawdown is at least £2,000 up to the remaining amount of your Drawdown Facility. 

Purpose of drawdown

In order to help us understand the purpose of the drawdown, please confirm what you’ll be using the drawdown for.  It is important that you include the reason and amount for each purpose and where you have multiple purposes the amount entered across all purposes must match the total amount requested. 

Please add as much information as possible to ensure your application is processed as promptly as possible.

Here's a typical example of the information we need:

Daughter  - Pay for a wedding
Granddaughter - Deposit on a new property

Here's a typical example of the information we need:

Kitchen - £20,000
Conservatory - £35,000
Carpets - £5,000

Please provide details of each home improvement below.

If you have more than three different home improvements. Please select 'Yes' to the 'Do you have any other purposes you wish to use the drawdown for?' question and add in the additional ones.

Please note: As you require planning permission, you will need to send us a copy of the planning permission prior to funds being released. You will be able to attach this to your digital acceptance form. 

Additionally, as you've also selected building regulations, please send a copy of the building regulations documentation once the work has been completed.

Please note: As you've selected planning permission, you will need to send us a copy of the planning permission prior to funds being released. You will be able to attach this through the digital process once we've processed the request. 

Please note: As you've selected building regulations, please send a copy of the building regulations documentation once the work has been completed.

Please note - The property where your lifetime mortgage is held must be your main residence. For more information please check your Terms and Conditions.

Here’s a typical example of the information we need:

Daughter  - Pay for a wedding
Granddaughter - Deposit on a new property

Here's a typical example of the information we need:

Kitchen - £20,000
Conservatory - £35,000
Carpets - £5,000

Please provide details of each home improvement below.

Please note: As you require planning permission, you will need to send us a copy of the planning permission prior to funds being released. You will be able to attach this to your digital acceptance form. 

Additionally, as you've also selected building regulations, please send a copy of the building regulations documentation once the work has been completed.

Please note: As you've selected planning permission, you will need to send us a copy of the planning permission prior to funds being released. You will be able to attach this through the digital process once we've processed the request. 

Please note: As you've selected building regulations, please send a copy of the building regulations documentation once the work has been completed.

Please note - The property where your lifetime mortgage is held must be your main residence. For more information please check your Terms and Conditions.

Here’s a typical example of the information we need:

Daughter  - Pay for a wedding
Granddaughter - Deposit on a new property

Here's a typical example of the information we need:

Kitchen - £20,000
Conservatory - £35,000
Carpets - £5,000

Please provide details of each home improvement below.

Please note: As you require planning permission, you will need to send us a copy of the planning permission prior to funds being released. You will be able to attach this to your digital acceptance form. 

Additionally, as you've also selected building regulations, please send a copy of the building regulations documentation once the work has been completed.

Please note: As you've selected planning permission, you will need to send us a copy of the planning permission prior to funds being released. You will be able to attach this through the digital process once we've processed the request. 

Please note: As you've selected building regulations, please send a copy of the building regulations documentation once the work has been completed.

Please note - The property where your lifetime mortgage is held must be your main residence. For more information please check your Terms and Conditions.

Bank details

Note: the bank account must be in the name of the lifetime mortgage account holders. 

The following Terms and Conditions apply to this drawdown application. By selecting the button(s) you're confirming that you're happy to accept these Terms and Conditions:

• The additional borrowing on this lifetime mortgage will be secured by way of the mortgage on the property.
• The fixed interest rate on this drawdown will be confirmed once the application has been accepted.
• It will reduce the amount of your remaining equity in the property and it will also reduce the amount you can leave as an inheritance from the property.
• Full details including the roll-up of interest and a full illustration will be included in the offer of loan we send to you.

If you have a Flexible Lifetime Mortgage

• Interest will be added to the amount that you owe and ‘rolled-up’ meaning that the amount you owe will increase over time.

If you have an Optional Payment Lifetime Mortgage

• If you have/had opted not to make the maximum interest payment or should you stop making interest payments, any remaining interest will be added to the amount that you owe and “rolled up” meaning that the amount that you owe will increase over time.
• Once we receive your application, we will need to call you to discuss how much interest you would like to pay on your drawdown. You should receive a call from our team within 48 hours.

The following declaration applies to this drawdown application. By selecting the button(s) you're confirming that you've read and understood the declaration:

• There have been no changes in your circumstances since you received advice from your original adviser.
• You fully understand the implications of this drawdown, as explained to you by your adviser as part of your original mortgage application.
• You understand that the availability of the Drawdown Facility is not guaranteed and will be considered within the parameters of your current lifetime mortgage and in accordance with the conditions of drawdown as set out in your Offer of Loan and Terms and Conditions.
• You understand that, if required, we may request a property valuation for which there may be an additional charge.
• You understand that additional drawdown(s) may affect your personal circumstances and we have recommended you speak to your adviser to fully understand the implications of these drawdowns. In certain cases we may insist you take financial advice. Your financial adviser will confirm the cost of this advice to you. In certain circumstances we may insist you take legal advice. If we require this we will make a contribution towards your legal fees and will advise you if this is a requirement once we have considered your drawdown request.
• You need to consider the balance remaining in your Drawdown Facility.
• You authorise us to provide information to your adviser relating to this request and your lifetime mortgage. Should you not wish us to provide such information to your adviser please confirm this to us in writing at: Legal & General Home Finance, PO Box 17225, Solihull B91 9US.
• The personal information collected from you will be shared with fraud prevention agencies to prevent fraud and money-laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance, or employment. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found on legalandgeneral.com/cifas