Aviva Equity Release Review

Aviva equity release is available to homeowners aged 55 or over. It involves unlocking the money that may be tied up in your home, minus any mortgage.

Learn More: How Does Equity Release Work?

How Much Can You Release? Use our Free Equity Release Calculator

Aviva is a member of the Equity Release Council.

Learn More: Who Are the Equity Release Council?

Aviva equity release is a means of retaining use of a house or other object which has capital value, while also obtaining a lump sum or a steady stream of income, using the value of the house.

The ‘catch’ is that the equity provider must be repaid at a later stage, usually when the homeowner dies.

The most obvious pitfall is that the equity provider must be repaid at a later stage, usually when the homeowner dies.

Also, one needs to keep in mind that there will be rolled up interest and that your equity release will have an impact on your inheritance.

Learn More: What Are the Equity Release Pitfalls?

The type of equity release that Aviva offers is called a lifetime mortgage.

What is an Aviva lifetime mortgage? We offer two lifetime mortgages: Lifestyle Lump Sum Max and Lifestyle Flexible Option. Both plans are a long- term loan that is secured on your property.

Learn More: What Is Equity Release?

How much does equity release cost?

For the lifetime mortgage equity release the typical rate is about 5%, although some rates are under 3%.

This is cheaper than rates have been for a number of years – yet still significantly higher than those for most standard mortgages.

Learn More: What Are the Costs of Equity Release?