Compare UK Equity Release Providers

You must be 55+ to qualify for Equity Release.
  • Independent UK Equity Release comparison service
  • Release up to £500,000 TAX FREE - Equity release is, in a nutshell, a way to unlock the value of your property and turn it into cash which lets you access – or 'release' – the equity (cash) tied up in your home, if you're 55+.
  • Get your free quotes and compare options from leading Equity Release companies.

Aviva Equity Release Review

If you are a homeowner aged 55 years or above, you can cash in the value tied to your property without having to move out. By filling in the quote form above, you will receive free no-obligation assessment and a quote comparing the market, maximum releases and the cashback available from leading UK equity providers.

Aviva Equity Release is such a provider that offers lifetime mortgages to eligible members.

Click here and complete the short form above to get a free no-obligation Equity Release comparison.

Aviva Lifetime Mortgage

With a lifetime mortgage, you can secure a loan with the value tied to your property. Instead of making monthly payments as with standard residential mortgages, interest builds on your loan, which will be paid in full upon the sale of your home. The best feature of this type of equity release is that you still retain your property until either you – or your partner in case of joint ownership – die or go into long-term care.

To compare Equity Release providers click here and complete the short form.

Eligibility for Aviva Equity Release

Age– Should be aged 55 or older. For those in marriages, co-habiting or civil partnerships, both must be aged 55 or over. The age of the youngest member is used to determine the loan amount.

Mortgage As a condition, you should pay the remaining mortgage on the house before you can take the loan. Fortunately, you can do this from the loan you receive.

Permanent Residence– To qualify for the loan, you should not leave the property unoccupied for over six months at a time.

Property Value– The Property Should be Worth Over £75,000 and be in the UK -excluding the Isle of Man and the Channel Islands. For maisonettes and flats, only 85% of the valuation will be used to work out the borrowable amount.

If the Home is a Leasehold or a Freehold – For freeholds, the home should either be in Scotland feuhold, freehold or ex-feuhold. For a leasehold, the sum of the age of the youngest member and years remaining on the lease should not be less than 160. For instance, if the youngest member is aged 61, there must be at least 99 years left on the contract.

Standard Features of Aviva Equity Release

Aviva lifetime mortgages can either be in the form of Lifestyle Lump Sum Max or Lifestyle Flexible Option.

Lifestyle Lump Sum Max

Through this kind of lifetime mortgage, you will get a one-off sum of cash. You will be able to borrow a minimum of £15,000, with benefits such as lower interest rates; depending on your health and lifestyle.

Lifestyle Flexible Options

This option enables the withdrawal of an initial lump sum, after which one can set a cash reserve to draw the money as required. This lifetime mortgage allows a minimum of £15,000; with £10,000 as the initial deposit and £5,000 as the cash reserve. From this reserve, you will be allowed to withdraw a minimum of £2,000 at a time.

Other features include:

A No Negative Equity Guarantee

No matter what happens, you will never owe more than the value of your home. Therefore, you or your estate will never have to pay more than the amount received from the sale of your property.

Partial Payment Option

While a regular lifetime mortgage is repaid in full upon death or movement to long-term care, partial repayment enables the homeowner to make earlier payments with no extra repayment charges. While this is voluntary, it helps you reduce the total amount you owe. Consult with your financial advisor to know whether this is the best option for you.

Fixed Interest Rates

The initial interest rate on your loan will remain fixed as it takes into consideration all factors, including your health, age and lifestyle. Additional borrowing or withdrawing from your cash reserve will also attract new interest rates.

Additional Borrowing

You could be eligible for additional borrowing if your house increases in value or if you did not take the full available amount. This is, however, not guaranteed and depends on several factors.

In case of any inquiries, you will be connected with an FCA approved broker who will help make things clear for you. By filling in the quote form above with the relevant details, you will get a quote with a comparison of UK equity release products.

To compare Equity Release providers click here and complete the short form.