By continuing to use the site you are agreeing to our use of cookies. How does equity release work? You could release money from your buy-to-let investment portfolio. Find out how much money you could borrow when taking out a lifetime mortgage against your buy-to-let property. There are no set interest rates, similar to a traditional mortgage, you’ll receive personalised interest rates related to your circumstances, the property value etc. To obtain further information or to request a quotation on the Aviva Lifestyle Lump Sum Max Lifetime Mortgage, please contact the Equity Release Supermarket team on Freephone … The interest rate will increase to 7.19% for business introduced through IFAs and to 7.49% for direct business. 1. So, what makes us stand out from the crowd? Income periods of between 10 - 25 years are available to meet your retirement income needs. Health conditions can improve the offer from your lender. Aviva’s award-winning equity release products and services have helped over 200,000 people release more than £7 billion of equity from their homes since 1998. 4.9 out of HOW IT WORKS. You are able to unsubscribe and so not receive any more emails or calls from us at any time. In the Spring 2020 Market Report, the Equity Release Council stated that average interest rates for Equity Release were 4.48%. The cost of equity release has reduced as interest rates are now lower than before. Lifetime mortgages that allow you to release tax-free cash as a single lump sum payment. Find out how much you could borrow by selling a percentage of your property for a cash lump sum. To obtain further information or to request a quotation on the Aviva Lifestyle Flexible Option Lifetime Mortgage, please contact the Equity Release Supermarket team on Freephone 0800 802 1051 today. Require monthly interest and or capital repayments. Find out how much money you could release with a drawdown lifetime mortgage. Free to use, equity release calculator range. equity release plans Find out what you could potentially save by switching to a new plan. Equity release may not be your only solution. This is important for those who wish to guarantee a percentage of the house value from their inheritance. Please contact the team on Freephone 0800 802 1051, if your valuation is higher. Find out the maximum monthly income you could receive on this special type of lifetime mortgage. Learn what they are. With the largest brand name in the equity release industry, Aviva have become synonymous with a name you can trust. Any further withdrawals would be at the interest rate applicable at the time of withdrawal. Aviva is the rebranded name of Norwich Union and is one of the longest serving providers of equity release plans today. Drawdown is the most popular lifetime mortgage. Rates can either be fixed or variable with a capped limit. The lowest Equity Release interest rate is currently 2.27% (AER) fixed for life. You receive a free no obligation mortgage quote. What should you be thinking about before taking the next step? Aviva Equity Release UK Limited can put you in touch with an equity release financial adviser who'll review your needs and future plans with you in person. That’s why our team of expert and impartial advisers are on hand to answer Click. Here’s an overview of the key considerations. Learn how they work. For loans greater than £1 million, bespoke quotations are available via Equity Release Supermarket. They make monthly payments direct to your bank account to spend as you wish. You must be over 55 and a homeowner. Aviva Equity Release Ltd P.O Box 520 Surrey Street Norwich NR1 3WG For our joint protection, telephone calls may be recorded and/or monitored and will be saved for a minimum of 5 years. Many factors determine the size of your equity release loan. Find out how much money you could borrow when taking out a lifetime mortgage against your second/holiday home. We need your correct email address to send you your quotation results. The company has over 30 million consumers worldwide, and it provides a wide range of lifetime mortgage products. We understand that with different options to choose from, it can be difficult to find the right lifetime With old-style lump-sum lifetime mortgages … Income periods of between 10 - 25 years are available to meet your retirement income needs. all your questions and find the right solution for you. House valuation from £294. Already have a lifetime mortgage? Therefore, if poor health can be evidenced then more favourable terms can be offered by way of a reduced equity release interest rate to their standard terms. Norwich Union does not offer a reversion type product. Drawdown is the most popular lifetime mortgage. Aviva is an award-winning Equity Release provider and has helped more than 200,000 people release £7 billion in equity from their home since the turn of the century.. To release cash from your home with Aviva, you need to be at least 55 years old. Also available are Legal & General or HSBC UK. Lifetime mortgage where regular interest repayments help control the final balance to be repaid. *£5 reduced application fee available until further notice This is the most popular and for those aged 55+. The equity release interest rate quoted above is only an example rate provided by Aviva - based on a male age 62, living in BS11 with a property valued at £215,000 releasing £32,000 initially with £12,505 in a reserve. The interest rate will be fixed for 7 days from the … The many alternative options available to you are discussed here. However, as the interest charged is compounded, they remain significantly higher than standard … By paying for the valuation upfront will actually reduce the equity release rate of interest on Aviva's plans. Our lifestyle calculator will advise how much you could release. Please call Freephone 0800 802 1051 for your personalised Aviva Key Facts Illustration. Find out the maximum monthly income you could receive on this special type of lifetime mortgage. Find the top equity release & lifetime mortgage rates for 2020 from … **The 3-year no early repayment charge applies to joint life plans where the loan is repaid within 3 years of death or long term care of a partner Discover how much money you could release across all the available equity release plans. You may need to pay a broker’s fee and some products expose you to changes in interest rates. Valuation fee as small as £246. As their names suggest, the ‘Lifestyle Lump Sum Max’ plan enables you to release a single, one-off lump sum whereas the ‘Lifestyle Flexible Option’ allows you to release an initial lump sum and also set up a reserve fund which you can drawdown against in the future. Make ad-hoc repayments which can help manage your final balance to be repaid. Learn what they are. Norwich Union is increasing the fixed interest rates on its equity release Flexible Cash Release Plan with effect from 24 November 2003. Each company is authorised and regulated by the Financial Conduct Authority (FCA). The most popular equity release scheme. Learn how home reversion schemes work here. What is the equity release process? You are able to unsubscribe and so not receive any more emails from us at any time. Learn all about equity release. For joint applicants there is an added protection feature for the last survivor of the plan. The Aviva Lifestyle Flexible Option is a drawdown lifetime mortgage scheme which provides an initial tax-free lump sum cash release for immediate use, with any remaining unused cash being retained in a cash reserve facility. I hope that I have provided you with an understanding of Aviva's equity release product offering. Aviva Equity Release have arranged lifetime mortgages to over 200,000 homeowners since inception in 1998 and in doing so have £7billion in released equity. 3. There are protections and safeguards in place to ensure that equity release is safe. You’ll find some of the best lifetime mortgage interest rates with Aviva. Learn more here. There are protections and safeguards in place to ensure that equity release is safe. Find out what you could potentially save by switching to a new plan. We won’t share your details with other companies. Aviva are members of the Equity Release Council all their plans come with a no-negative equity guarantee. Also available are the lenders OneFamily or Metro Bank. All cashback options will affect the lifetime mortgage interest rate offered by Aviva. 4. Monthly payment equity release may impact ability to claim benefits. Since 1998, we’ve helped over 250,000 customers release equity from their home with a … Learn how they work. Please read our Privacy Policy for The many alternative options available to you are discussed here. More details here. Why is it important to have expert financial advice when taking out an equity release plan? A generous free valuation of upto £1 million is offered along with a fixed equity release lifetime interest rate on the initial lump sum. Find out the maximum you could borrow with a retirement interest only mortgage (RIO) – a residential mortgage, based on income that allows you to borrow on an open - ended basis into retirement. Learn how home reversion schemes work here. Please read our Privacy Policy for further details. If they took out a £100,000 Lifestyle Flexible Option equity release loan with Aviva at an interest rate of 3.71 per cent, they would have to pay a £15,973 if the index fell by 1 per cent. Health conditions could help you borrow more money. My father was 79 and my mother was 68. We need your correct email address and telephone number so that we can answer your question. Also available are Just or Metro Bank. You must be over 55 and a homeowner. This equity release scheme involves selling a percentage of your home. They make monthly payments direct to your bank account to spend as you wish. Norwich Union, the UK’s largest provider of equity release products, is reducing the fixed rate of interest on its Cash Release Plan from 7.55% to 7.29% with immediate effect for new business. Information and qualifying criteria on these lifetime mortgages here. The Aviva Lifestyle Flexi Plan is specifically designed for homeowners looking for one of the lowest equity release interest rates, combined with the flexibility of a drawdown facilty and voluntary repayment options. They are also one of the longest standing lifetime mortgage providers in the UK. The minimum withdrawal amount from the cash reserve facility is just £2,000, with no further administration charges for any additional drawdown amounts taken. Helps you understand how much money could be left as an inheritance when your lifetime mortgage ends. Aviva equity release, one of the most established equity release plan providers in the UK, have made available lifetime mortgage plans to over 150,000 consumers since 2000. Learn how these lifetime mortgages work. For over 30 years, Moneyfacts has been helping people to find the best financial products. Find out how much money you could potentially release with an interest-only lifetime mortgage. Make ad-hoc repayments which can help manage your final balance to be repaid. Interest Rates as low as 2.33%. Please note the rates and information below have come from the Equity Release Council, Equity Release Supermarket and Money.co.uk.They were accurate as of January 2020 … Understand what they are and how much you can borrow. themselves. As a member of the Equity Release Council, Aviva equity release has safeguards in place, such as a no-negative-equity guarantee, so the amount you owe will never be more than the proceeds of the sale of your property (after fees), to reduce the potential risks. Find out how much money you could save your estate by making ad-hoc payments to reduce your final balance. 4.9 out of We also need your telephone number so that your local, expert adviser can talk to you about your quotation and how we may be able to help you further. Low average equity release interest rates continue to feature as a key trend in the market, with the average interest rate in January 2020 at 4.48%****. further details. Find out what’s involved and how long it takes. Learn more about the various types of later life lending plans available to homeowners over the age of 55. We search the equity release market for the latest deals (including online exclusive rates!) Learn how you could borrow more, or lower your rate here. Equity Release Loan To Value for Aviva Home Equity Release 55 plus. Please read our Privacy Policy for further details. Best Equity Release Rates is an independent marketing website which acts as an introducer to companies who offer specialist lifetime mortgage advice. These are £0, £500 & £1,000. Wondering how much equity release is going to cost? 1286 reviews, We use cookies to offer the best website experience. ***Rates dependent upon personal criteria such age, health, loan amount & property details. In fact, Aviva has won Best Equity Release Lender Customer Service since 2017, and Best Equity Release Lender since 2013 1. offers and product details. Equity release may not be your only solution. RIO Mortgages continue into retirement based on income and affordability. Find out how much money you could save your estate by making ad-hoc payments to reduce your final balance. 5 by Feefo.com based on Find out the maximum you could borrow with a retirement interest only mortgage (RIO) – a residential mortgage, based on income that allows you to borrow on an open - ended basis into retirement. And hopefully, you have an idea whether you could be an Aviva equity release … The minimum release on the Aviva Lifestyle Flexi Option plan is £10,000 with a mandatory minimum reserve facility of £5,000 to accompany this. The type of equity release we offer is called a lifetime mortgage. The minimum property valuation applicable to this Flexible Lifetime Mortgage is £75,000 with no maximum. RIO Mortgages continue into retirement based on income and affordability. They can then use the extra funds to pay down the … This Aviva Lifetime Mortgage Plan comes with the option to include enhanced terms dependent upon the health conditions of the homeowners. That’s because we don’t have call centres. Aviva offer two types of lifetime mortgage: ‘Lifestyle Lump Sum Max’ and ‘Lifestyle Flexible Option’. For the lifetime mortgage equity release the typical rate is about 5%, although some rates are under 3%, which is significantly higher than those for most standard mortgages. We won't share your details with other companies. Compare Aviva Equity Release rates against the market to see how much you could save? For homeowners over 55 that want to access the money tied up in their home. We won't share it with other companies. It also offers fixed interest rates so you always know the rate … Recently, Nationwide entered the lifetime mortgage market but instead of offering its own range of plans, it refers its members to Equity release is a big financial decision. As part of the Lifestyle Flexi Options Aviva offer a series of cashbacks which the homeowner can chose from. Calls to 0800 numbers from UK landlines and mobiles are free. We also need your telephone number so that your local, expert adviser can talk to you about your quotation and how we may be able to help you further. Information and qualifying criteria on these lifetime mortgages here. The new rates will be effective on loans completed on and after 2 August 2004. 31 st December - closing at 4pm and will re-open 4 th January 2021 Aviva offer two types of lifetime mortgage: ‘Lifestyle Lump Sum Max’ and ‘Lifestyle Flexible Option’. Additionally, there is the option to accept or decline the free valuation offer. What is the equity release process? Learn how these lifetime mortgages work. Income plans allow you to supplement your retirement income. ‘In 2002 my parents took out an equity release lifetime mortgage of £125,000 with Norwich Union, now Aviva, with an interest rate of 7.79 per cent. Property location - which must be a main residence, needs to be located within England, Wales, Scotland. NO BROKERS FEE. Then again, it is your money, so prioritise your own standard of living. The interest rate will increase from 7.15% to 7.35% for business introduced through IFAs and from 7.29% to 7.49% for business that comes direct to Norwich Union. The most popular equity release scheme. Free to use, equity release calculator range. 5 by Feefo.com based on Our interest rates have decreased or remained the same on:New business (Lifestyle Lump Sum Max and Lifestyle Flexible Option) Reserve Release (Lifestyle Flexible Option and Cash Reserve Option)New BusinessAll pre-sales illustrations produced on or after Wednesday 7th August 2019 will automatically be processed using the new interest rates … Norwich Union is increasing the fixed interest rates on its Fixed Rate Lifetime Mortgage by 0.20%. A further option for inclusion is the Inheritance Protection feature so the homeowner can secure a fixed percentage of the final sale value of the property. If our lifetime mortgage is right for you, they'll be able to give you a personal illustration and highlight the benefits, as well as the costs and risks. This Aviva Lifestyle Flexi Drawdown Mortgage enables any homeowner to spend their tax-free cash as they wish, with no need in having to make any repayments. Additionally, there is the option to accept or decline the free valuation offer. Health conditions can improve the offer from your lender. Equity release is a big financial commitment, so understanding what it would mean for you and your family is really important. As a reminder – equity release is a way of turning some of the value from your home into tax-free cash. Find out how much you could borrow by selling a percentage of your property for a cash lump sum. The main features that Aviva lifetime mortgages offer include: Aviva’s downsizing protection feature allows you to sell your home after 3 years, and repay your lifetime mortgage without incurring any early repayment charges dependent upon the property you move into. Therefore, all the lifestyle choices of cashbacks and valuation all have a bearing on the equity release terms offered & can be designed to suit the homeowner's requirements. If your client wants to make a change to their loan details or the health and lifestyle questions you should email a new Personal Quote Summary (PQS) to: LPEQREN@AVIVA.COM. Equity release interest rates. Require monthly interest only repayments. However, please contact us directly on properties over £2 million as Aviva may impose restrictions on certain properties over this value. You could release money from your buy-to-let investment portfolio. Please read our Privacy Policy for further details. receive any more emails or calls from us at any time. We need your correct email address to send you your quotation results. So the 86-year-old widow, from Radcliffe-on-Trent, Nottinghamshire, took out a £38,000 equity-release loan from Aviva, at a fixed interest rate of 6.89 per cent. We need your correct email address to send you your factsheet. enhanced borrowing if you have qualifying medical conditions. Health conditions could help you borrow more money. This equity release scheme involves selling a percentage of your home. Lifetime mortgage. Learn what the other qualifying criteria are for equity release. This is ideal for those needing access to immediate cash, but with a further drawdown amount in the future and comes with a competitive equity release interest rate. This helps manage control the future balance of the UK lifetime mortgage scheme, either to reduce the roll-up effect of the interest, pay off the interest only or even reduce the future balance by using the full 10% allowance. Rates start at 2.61%. The interest rates charged, and the amounts of money you can release will be the same regardless of if you go direct, or through another advice firm. Mortgages that continue into retirement based on income and affordability. Learn how they work. voluntary partial repayments (upto 10%pa of the total amount borrowed). Aviva’s award-winning equity release products and services have helped over 200,000 people release more than £7 billion of equity from their homes since 1998. View Cookies Policy, Your summary includes any incentives, special Just highly qualified and experienced advisers ready to help you. More details here. You can release money from your second or holiday home. Discover how much money you could release across all the available equity release plans. Mortgages that continue into retirement based on income and affordability. Additionally, Aviva are only one of two providers that will lend in Northern Ireland. However, one feature of the Aviva Equity Release plan is the Voluntary Partial Repayment Option allowing the homeowner to start making upto 10% repayments of the original amount borrowed each year, with no penalty. The equity release interest rate quoted above is only an example rate provided by Aviva - based on a male age 62, living in BS11 with a property valued at £215,000 releasing £32,000 initially with £12,505 in a reserve. Lifetime mortgages that allow you to release tax-free cash as a single lump sum payment. What should you be thinking about before taking the next step? Trends among new and returning customers Drawdown lifetime mortgages remained the most popular type of new plan agreed, albeit with a lower … Over to you. Learn all about equity release. It costs nothing to give us a call and the first and only person you’ll speak to is your local adviser. Require monthly interest and or capital repayments. is rated Learn more here. We’ve helped hundreds of thousands of customers. Lifetime mortgage where regular interest repayments help control the final balance to be repaid. Here you borrow some of your home's value at a fixed or capped interest rate (see below for more). Find out how much money you could borrow when taking out a lifetime mortgage against your buy-to-let property. Find out what’s involved and how long it takes. Learn more here. This can be done by increasing the interest rate on their loan. If you’re not making monthly repayments to reduce the debt, then the interest compounds and compounds. Equity Release Supermarket We won’t share your details with other companies. The rate quoted above includes £500 cashback. Pure Retirement. Find out the maximum amount of money you could borrow with equity release. In addition, Aviva Equity Release also provide balance control measures with their flexible 10% voluntary partial repayment facility. Find out how much money you could release with a drawdown lifetime mortgage. Learn about how they work and the range of flexible plans available. Equity release interest rates range from 2.30% to 4%. A re-offer will be sent to you and your client which will be based on the prevailing rates. Aviva’s relaxed lending approach now allows them to consider properties with self-contained areas such as annexe’s and holiday lets, plus the inclusion of some commercial use - both within the property and on adjacent land, subject to limits. Aviva are a household name; best known for the range of insurance and pension products they offer. You can release money from your second or holiday home. Learn how they work. The ‘big 6’ high street banks - that is Halifax, Barclays, Lloyds, HSBC, Santander and Royal Bank of Scotland (RBS) don’t currently offer lifetime mortgages or other Our lifestyle calculator will advise how much you could release. The Cash Release Plan is a mortgage style equity release product. is rated Aviva's Flexible Lifetime Mortgage is available on both a single and joint life basis with a minimum age for youngest homeowner being 55, and has no upper age restriction. Aviva will only take into consideration 85% of the current market valuation of flats and maisonettes. No advisor fee is taken for Equity Release. Require monthly interest only repayments. Learn about how they work and the range of flexible plans available. By paying for the valuation upfront will actually reduce the equity release rate of interest on Aviva's plans. View Cookies Policy, Lifestyle Flexible Enhanced - £500 cashback, Lifestyle Flexible Option - £500 cashback, Lifestyle Flexible Option - £1000 cashback. Aviva provide a range of flexible drawdown lifetime mortgage plans and high maximum lump sum plans with the ability to also take health and lifestyle into consideration. All cashback options will affect the lifetime mortgage interest rate offered by Aviva. In closing. Every year our in-house money experts cast their eye over all the equity release products available to the UK market, using their in-depth knowledge to determine those that truly represent the best solutions. Above Aviva interest rates are based on female age 76, living in NG11, with a property valued at £200,000 and releasing equity of £78,300. Bridgewater Equity Release was founded in 1998 as a specialist Equity Release … Left as an inheritance when your lifetime mortgage plan provider for you and your family is really important is mortgage. Market for the valuation upfront will actually reduce the debt, then the interest rate on the prevailing rates this! Fixed rate lifetime mortgage balance to be located within England, Wales, Scotland from some the... Of Flexible plans available to you are agreeing to our use of cookies buy-to-let property are discussed here Best. The lowest equity release scheme involves selling a percentage of your equity release Lender Customer Service since,. Key considerations advice when taking out a lifetime mortgage against your second/holiday home learn about. 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