Aviva Equity Release

Do You Want to Unlock Funds With Aviva Equity Release?
Contributors: Nicola Date, Katherine Read. Edited by Rachel Wait & Reviewed by Francis Hui
Are You Considering Aviva Equity Release? Discover the Pros, Cons, Interest Rates & Qualification Criteria. Read Here to Find Out if They’re the Best Option for You.

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Is Aviva equity release the best?

I think you’ll agree with me when I say:

It’s REALLY hard to choose the best equity release provider with all the choices available.

Or is it?

What You’ll Learn in This Article:

    Let’s find out NOW!

    At SovereignBoss, our research team has spent countless hours reviewing equity release information and putting it together in an easy-to-use format.

    Is Aviva the ideal equity release loan company to assist you and your family?

    SovereignBoss is not affiliated with Aviva. The views in this article are our own & may not reflect those of Aviva.

    What’s Equity Release?

    An equity release mortgage is, in a nutshell, a loan plus interest that is paid back to the lender when the homeowner passes away or goes into permanent care.

    Who Are Aviva?

    Aviva plc is a British global insurance corporation with its headquarters in London.

    As part of its extensive business operations, Aviva has an equity release arm called Aviva Equity Release UK Ltd.

    Aviva serves around 33 million clients in 16 countries.1 Aviva is the largest general insurance firm and a significant life and pensions provider in the United Kingdom 2.

    How Did We Review the Info on Aviva?

    We reviewed the Info on Aviva by analysing all its latest plan offerings, comparing its policies to similar lenders, and reviewing the company’s level of customer satisfaction.

    Does Aviva Have an Equity Release Calculator?

    Yes, Aviva has an equity release calculator.

    Before using the Aviva equity release calculator, try the calculator below & we’ll connect you with a provider who can almost always match & BEAT any existing equity release quote that you’ll find elsewhere.

    How Much Can You Release?

    Use the Calculator Below 👇

     

    Equity Release Calculator

    Value of Your Home?

    50000

    Drag me

    100% Safe & Fast

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    Why Consider Aviva?

    You might consider Aviva to help you unlock more value from your home and enjoy a tax-free boost to your financial freedom.

    By choosing Aviva, you’ll join the company of over 270 000 homeowners who have, since 1998, released over £7 billion in equity.

    These homeowners continue to enjoy award-winning service and a range of flexible drawdown lifetime mortgage and lump sum plans.

    As the largest name in equity release, Aviva knows what it takes to make the most of your retirement.

    Take a moment and consider yours.

    Aviva’s Equity Release Scheme

    Aviva’s equity release scheme is a lifetime mortgage that allows you to remain in your residence until you (and your partner) pass on or move into long-term care.

    Aviva Lifestyle Flexible Option

    The Aviva Lifestyle Flexible Option is a lifetime mortgage that can be customised to suit your individual needs.

    Aviva’s Equity Release Scheme Features

    Aviva’s equity release scheme features include the flexibility to choose a lump sum or drawdown option.

    Let’s take a look at some more features:

    • Fixed interest rate
    • Lump sum of £15 000 or more on the lump sum option
    • Initial lump sum or £10,000 or more plus a minimum of £5,000 placed in reserve on the drawdown option
    • Voluntary repayment option

    What Are the Advantages & Disadvantages of Using Aviva?

    Pros

    • Credible insurance company and a market leader.
    • Lump-sum and drawdown plans.
    • Optional partial repayments.
    • Possibility of larger loans and/or lower interest rates depending on your health and lifestyle.
    • Downsizing protection.
    • Inheritance protection.
    • No negative equity guarantee.
    • User-friendly website – including an easy-to-use online equity release calculator.
    • Award-winning service – regularly features at the Personal Finance & What Mortgage Awards.
    • Equity Release Council Member.
    • Flexible withdrawal and repayment options.
    • Tailored interest rates.

    Cons

    • £15,000 minimum equity – most other lenders have set this amount to £10,000.
    • Lengthy process – can take 8 to 12 weeks from the application stage to when you receive your money.
    • All equity release plans could impact your tax and welfare benefits.
    • When taking out any equity release loan, interest will compound if not repaid.

    Editor’s Rating: 4.89

    Aviva’s Qualification Criteria

    • Minimum Amount of Equity Offered: £15,000
    • Maximum Amount of Equity Offered: No limit specification
    • Minimum Age Limit: 55 years
    • Property Minimum Value: £75,000 (It can’t be unoccupied for more than six months)
    • Property Location: UK (excluding the Channel Islands and the Isle of Man)
    • Property Condition: Freehold (or leasehold if 160 years are remaining on the lease)

    What Are Aviva’s Fees?

    Aviva’s fees may include arrangement and valuation fees. You’ll also have to pay your solicitor’s fee.

    Customer Complaints

    Aviva is committed to resolving concerns right away.

    You’ll need to provide:

    • Your personal details.
    • Your policy or claim details.
    • The nature of your complaint.
    • How do you want Aviva to resolve the issue?

    If the complaint can’t be resolved right away, you’ll receive a written response within 8 weeks.

    If you’re still unhappy with the results of the dispute, Aviva encourages clients to contact the Financial Ombudsman Service.

    For more information and to launch a complaint with Aviva, follow this link here.

    What Are the Interest Rates on Aviva’s Equity Release Plans?

    Aviva equity release interest rates start around 4,75% and will be determined based on your age, property value, loan amount, and health and lifestyle.

    View the latest interest rates here.

    *While we regularly review interest rates, these may have shifted since the last update.

    Schemes Compared

    Are you looking for a specific equity release scheme?

    Have a look at all the equity release schemes available on the market.

    What Does Aviva Offer?

    Aviva offers car, home, life, and health insurance, as well as investments, pensions, and retirement plans.

    Aviva has facilitated the discharge of £7 billion in funds since 1998, dealing with over 200 000 clients.

    They’ve won several awards along the way, including the Best Equity Release Lender in 2020.

    Customer Reviews & Ratings

    Aviva’s Online Reviews

    Aviva has a 4.7 rating on TrustPilot³, making them a favourable equity release option.

    Aviva’s Online Ratings

    Aviva Jobs

    There are a ton of job opportunities at Aviva, and they have an entire site dedicated to their career offerings. You can review this page right here.

    Aviva FCA Details

    Trading Names

    • Aviva Equity Release UK Limited
    • Norwich Union Equity Release Limited

    Permitted Services

    • Mortgages & home finance
    • Consumer credit
    • Investments
    • Other activities

    Regulators

    • Financial Conduct Authority (FCA)
    • Financial Services Authority — now the Prudential Regulation Authority (PRA)

    Registration Numbers

    • FCA Ref Number: 310433
    • Companies House Reg Number: 03286484

    FCA & Company House Links

    Aviva Contact Number & Address

    • +44 207 283 2000
    • helpdesk@aviva.co.uk
    • Aviva PLC. Registered Office: St Helen’s, 1 Undershaft, London EC3P 3DQ.
    • Aviva Equity Release: Wellington Row, York, North Yorkshire, YO90 1WR

    Common Questions

    Is Aviva a Member of the Equity Release Council?

    What Are Aviva's Interest Rates?

    Who Owns Aviva ?

    Where is Aviva Located?

    Does Aviva Do Equity Release?

    Is Aviva's Equity Release Safe?

    Conclusion

    Aviva could be the right equity release company for you. However, you won’t know until speaking to a financial advisor.

    We suggest you contact a professional equity release advisor today to discuss Aviva’s equity release options.

    Additional Reading:

    Before You Go…

    Use the FREE Calculator Below 👇

     

    Equity Release Calculator

    Value of Your Home?

    50000

    Drag me

    100% Safe & Fast

    Featured In
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    Editor’s Note: The information contained in this website is for general information purposes only & while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. This content has been independently collected by the SovereignBoss team and is offered on a non-advised basis. View our editorial guidelines.

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