Redraw Facility
nounre·draw fa·cil·i·typronounced ree-DRAW fə-SIL-ə-tee
Last reviewed 16 April 2026
What does the noun Redraw Facility mean?
A feature on some home loans that lets you withdraw extra repayments you have already made. It gives you access to cash without taking out a new loan, but the money you redraw is added back to your loan balance.
How the noun Redraw Facility is used
We had put an extra $30,000 into the mortgage, but when the hot water system died we used the redraw facility to pull $5,000 back out without refinancing.
Synonyms
redraw option, loan redraw
Related words
Cite this entry
MLA citation: "Redraw Facility." How to Property, 16 Apr. 2026, https://howtoproperty.com.au/definitions/redraw-facility. Accessed 29 May 2026.
Chicago citation: How to Property. "Redraw Facility." Last modified April 16, 2026. https://howtoproperty.com.au/definitions/redraw-facility.
APA citation: How to Property. (2026, April 16). Redraw Facility. https://howtoproperty.com.au/definitions/redraw-facility