Aviva are a household name; best known for the range of insurance and pension products they offer. It's a long-term loan you can apply for once you're aged 55 or over. What is the equity release process? The most popular equity release scheme. Helps you understand how much money could be left as an inheritance when your lifetime mortgage ends. Many factors determine the size of your equity release loan. enhanced borrowing if you have qualifying medical conditions. Require monthly interest only repayments. Learn what the other qualifying criteria are for equity release. The minimum withdrawal amount from the cash reserve facility is just £2,000, with no further administration charges for any additional drawdown amounts taken. equity release plans So, what makes us stand out from the crowd? offers and product details. We need your correct email address to send you your factsheet. More details here. Learn how you could borrow more, or lower your rate here. You must be over 55 and a homeowner. We need your correct email address to send you your quotation results. Best Equity Release Rates is an independent marketing website which acts as an introducer to companies who offer specialist lifetime mortgage advice. You must be over 55 and a homeowner. Learn how they work. Learn how you could borrow more, or lower your rate here. 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 monthly income you could receive on this special type of lifetime mortgage. Learn how they work. Bridgewater Equity Release was founded in 1998 as a specialist Equity Release … 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. Make ad-hoc repayments which can help manage your final balance to be repaid. 1. 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. 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. Equity release interest rates. HOW IT WORKS. The lowest Equity Release interest rate is currently 2.27% (AER) fixed for life. Complete 1 simple form. The rate quoted above includes £500 cashback. It also offers fixed interest rates so you always know the rate … What should you be thinking about before taking the next step? 2. How does equity release work? Health conditions can improve the offer from your lender. Aviva will only take into consideration 85% of the current market valuation of flats and maisonettes. 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. With old-style lump-sum lifetime mortgages … Already have a lifetime mortgage? Avivaâs 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. Learn what they are. Each company is authorised and regulated by the Financial Conduct Authority (FCA). 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. Please read our Privacy Policy for Find out whatâs involved and how long it takes. We need your correct email address and telephone number so that we can answer your question. Learn how home reversion schemes work here. Find out what you could potentially save by switching to a new plan. Find out how much money you could release with a drawdown lifetime mortgage. Lifetime mortgages that allow you to release tax-free cash as a single lump sum payment. Norwich Union is increasing the fixed interest rates on its Fixed Rate Lifetime Mortgage by 0.20%. Already have a lifetime mortgage? Equity Release Supermarket Norwich Union is increasing the fixed interest rates on its equity release Flexible Cash Release Plan with effect from 24 November 2003. 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 … For loans greater than £1 million, bespoke quotations are available via Equity Release Supermarket. Equity Release Supermarket The highest interest rate in the market is 6.47% (AER). If you’re not making monthly repayments to reduce the debt, then the interest compounds and compounds. There are protections and safeguards in place to ensure that equity release is safe. We need your correct email address to send you your quotation results. 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. Free to use, equity release calculator range. More details here. Require monthly interest only repayments. Why is it important to have expert financial advice when taking out an equity release plan? They make monthly payments direct to your bank account to spend as you wish. Please contact the team on Freephone 0800 802 1051, if your valuation is higher. The lender will want to know if the property is a Freehold terraced house or a Leasehold flat and if the resident is an Owner Occupier. This Aviva Lifetime Mortgage Plan comes with the option to include enhanced terms dependent upon the health conditions of the homeowners. However, please contact us directly on properties over £2 million as Aviva may impose restrictions on certain properties over this value. No broker fee for Home Equity Release. All cashback options will affect the lifetime mortgage interest rate offered by Aviva. 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. This is the most popular and for those aged 55+. 5 by Feefo.com based on I hope that I have provided you with an understanding of Aviva's equity release product offering. Learn more here. The âbig 6â high street banks - that is Halifax, Barclays, Lloyds, HSBC, Santander and Royal Bank of Scotland (RBS) donât currently offer lifetime mortgages or other We’ve helped hundreds of thousands of customers. We won't share your details with other companies. Calls to 0800 numbers from UK landlines and mobiles are free. ***Rates dependent upon personal criteria such age, health, loan amount & property details. Learn more here. Lifetime mortgage where regular interest repayments help control the final balance to be repaid. You are able to unsubscribe and so not receive any more emails or calls from us at any time. Require monthly interest and or capital repayments. RIO Mortgages continue into retirement based on income and affordability. A re-offer will be sent to you and your client which will be based on the prevailing rates. Income periods of between 10 - 25 years are available to meet your retirement income needs. There are protections and safeguards in place to ensure that equity release is safe. A flexible cash reserve allows you to receive money in smaller amounts. Wondering how much equity release is going to cost? Monthly payment equity release may impact ability to claim benefits. 3. Norwich Union does not offer a reversion type product. 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. Equity release is a big financial decision. Learn how home reversion schemes work here. all your questions and find the right solution for you. Please read our Privacy Policy for further details. A flexible cash reserve allows you to receive money in smaller amounts. Find out how much money you could borrow when taking out a lifetime mortgage against your second/holiday home. Find out how much money you could borrow when taking out a lifetime mortgage against your buy-to-let property. They make monthly payments direct to your bank account to spend as you wish. Find out how much money you could borrow when taking out a lifetime mortgage against your second/holiday home. Here’s an overview of the key considerations. The interest rate will increase to 7.19% for business introduced through IFAs and to 7.49% for direct business. 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. Find out what you could potentially save by switching to a new plan. You’ll find some of the best lifetime mortgage interest rates with Aviva. Click. And hopefully, you have an idea whether you could be an Aviva equity release … 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. The main features that Aviva lifetime mortgages offer include: Avivaâs 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. Drawdown is the most popular lifetime mortgage. Therefore, upon eventual sale of the property, any beneficiaries cannot be left with a debt to the equity release provider. Also available are Legal & General or HSBC UK. Equity release is a big financial commitment, so understanding what it would mean for you and your family is really important. They can then use the extra funds to pay down the … In the Spring 2020 Market Report, the Equity Release Council stated that average interest rates for Equity Release were 4.48%. Additionally, Aviva are only one of two providers that will lend in Northern Ireland. Find out how much money you could potentially release with an interest-only lifetime mortgage. Equity release may not be your only solution. Equity Release Loan To Value for Aviva Home Equity Release 55 plus. 31 st December - closing at 4pm and will re-open 4 th January 2021 Make ad-hoc repayments which can help manage your final balance to be repaid. For homeowners over 55 that want to access the money tied up in their home. 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 … Avivaâs relaxed lending approach now allows them to consider properties with self-contained areas such as annexeâs and holiday lets, plus the inclusion of some commercial use - both within the property and on adjacent land, subject to limits. 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. You are able to unsubscribe and so not receive any more emails from us at any time. The many alternative options available to you are discussed here. Lifetime mortgage. You receive a free no obligation mortgage quote. View Cookies Policy, Lifestyle Flexible Enhanced - £500 cashback, Lifestyle Flexible Option - £500 cashback, Lifestyle Flexible Option - £1000 cashback. 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. Find out the maximum amount of money you could borrow with equity release. Health conditions could help you borrow more money. 4. Learn how these lifetime mortgages work. You could release money from your buy-to-let investment portfolio. Equity release is a big financial decision. mortgage plan provider for you. further details. Equity release interest rates range from 2.30% to 4%. Thatâs why our team of expert and impartial advisers are on hand to answer Since 1998, we’ve helped over 250,000 customers release equity from their home with a … Find out the maximum amount of money you could borrow with equity release. However, as the interest charged is compounded, they remain significantly higher than standard … Aviva are members of the Equity Release Council all their plans come with a no-negative equity guarantee. Recently, Nationwide entered the lifetime mortgage market but instead of offering its own range of plans, it refers its members to Please read our Privacy Policy for further details. All cashback options will affect the lifetime mortgage interest rate offered by Aviva. These are £0, £500 & £1,000. Over to you. themselves. Learn how they work. Please call Freephone 0800 802 1051 for your personalised Aviva Key Facts Illustration. voluntary partial repayments (upto 10%pa of the total amount borrowed). This is important for those who wish to guarantee a percentage of the house value from their inheritance. Find out the maximum monthly income you could receive on this special type of lifetime mortgage. Learn more about the various types of later life lending plans available to homeowners over the age of 55. Also available are Just or Metro Bank. In addition, Aviva Equity Release also provide balance control measures with their flexible 10% voluntary partial repayment facility. Learn more here. Equity release may not be your only solution. Find out how much money you could potentially release with an interest-only lifetime mortgage. The cost of equity release has reduced as interest rates are now lower than before. By continuing to use the site you are agreeing to our use of cookies. We understand that with different options to choose from, it can be difficult to find the right lifetime receive any more emails or calls from us at any time. 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. 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. 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. Learn all about equity release. Home valuation from £275. Please read our Privacy Policy for further details. The minimum property valuation applicable to this Flexible Lifetime Mortgage is £75,000 with no maximum. is rated What is the equity release process? Learn how these lifetime mortgages work. Why is it important to have expert financial advice when taking out an equity release plan? Find out the maximum you could borrow with a retirement interest only mortgage (RIO) â a residential mortgage, based on income that allows you to borrow on an open - ended basis into retirement. Also available are the lenders OneFamily or Metro Bank. Require monthly interest and or capital repayments. With the largest brand name in the equity release industry, Aviva have become synonymous with a name you can trust. Learn all about equity release. Mortgages that continue into retirement based on income and affordability. Discover how much money you could release across all the available equity release plans. 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. House valuation from £294. RIO Mortgages continue into retirement based on income and affordability. For over 30 years, Moneyfacts has been helping people to find the best financial products. Here you borrow some of your home's value at a fixed or capped interest rate (see below for more). Drawdown is the most popular lifetime mortgage. Health conditions could help you borrow more money. Compare Aviva Equity Release rates against the market to see how much you could save? *£5 reduced application fee available until further notice 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. Learn how these lifetime mortgages work. Trends among new and returning customers Drawdown lifetime mortgages remained the most popular type of new plan agreed, albeit with a lower … We wonât share your details with other companies. 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. Additionally, there is the option to accept or decline the free valuation offer. You could release money from your buy-to-let investment portfolio. View Cookies Policy, Your summary includes any incentives, special Free to use, equity release calculator range. We won't share it with other companies. And it's normally repaid using your home once you pass away or need long-term care. We wonât share your details with other companies. As their names suggest, the âLifestyle Lump Sum Maxâ plan enables you to release a single, one-off lump sum whereas the âLifestyle Flexible Optionâ allows you to release an initial lump sum and also set up a reserve fund which you can drawdown against in the future. Valuation fee as small as £246. As part of the Lifestyle Flexi Options Aviva offer a series of cashbacks which the homeowner can chose from. Aviva offer two types of lifetime mortgage: ‘Lifestyle Lump Sum Max’ and ‘Lifestyle Flexible Option’. Should one homeowner die or move into care, the surviving partner has the option to be able to repay this lifetime mortgage back to Aviva within 3 years of this event, with NO penalty. Equity release products fall into two main camps: 1. Below we look at interest rates from some of the leading lifetime mortgage and equity release providers.. Lifetime mortgage where regular interest repayments help control the final balance to be repaid. Aviva is the rebranded name of Norwich Union and is one of the longest serving providers of equity release plans today. Learn how they work. For homeowners over 55 that want to access the money tied up in their home. Learn about how they work and the range of flexible plans available. 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. The interest rate will be fixed for 7 days from the … What should you be thinking about before taking the next step? Learn what the other qualifying criteria are for equity release. You are able to unsubscribe and so not receive any more emails or calls from us at any time. Additionally, there is the option to accept or decline the free valuation offer. Aviva offer two types of lifetime mortgage: âLifestyle Lump Sum Maxâ and âLifestyle Flexible Optionâ. The company has over 30 million consumers worldwide, and it provides a wide range of lifetime mortgage products. Income periods of between 10 - 25 years are available to meet your retirement income needs. In closing. This equity release scheme involves selling a percentage of your home. 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. This can be done by increasing the interest rate on their loan. 4.9 out of Helps you understand how much money could be left as an inheritance when your lifetime mortgage ends. Property location - which must be a main residence, needs to be located within England, Wales, Scotland. Our lifestyle calculator will advise how much you could release. Find out whatâs involved and how long it takes. The most popular equity release scheme. **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 Information and qualifying criteria on these lifetime mortgages here. Then again, it is your money, so prioritise your own standard of living. 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. Discover how much money you could release across all the available equity release plans. By continuing to use the site you are agreeing to our use of cookies. They are also one of the longest standing lifetime mortgage providers in the UK. Just highly qualified and experienced advisers ready to help you. 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%****. Learn more about the various types of later life lending plans available to homeowners over the age of 55. As a reminder – equity release is a way of turning some of the value from your home into tax-free cash. 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. 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. You can release money from your second or holiday home. Pure Retirement. For joint applicants there is an added protection feature for the last survivor of the plan. Find out how much you could borrow by selling a percentage of your property for a cash lump sum. 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 … The type of equity release we offer is called a lifetime mortgage. Understand what they are and how much you can borrow. 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. 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. NO BROKERS FEE. 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. 1286 reviews, We use cookies to offer the best website experience. The new rates will be effective on loans completed on and after 2 August 2004. 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. In fact, Aviva has won Best Equity Release Lender Customer Service since 2017, and Best Equity Release Lender since 2013 1. Equity release interest rates are at unprecedented lows in 2020 due to increased demand for lifetime mortgages … 1286 reviews, We use cookies to offer the best website experience. 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. Learn what they are. 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. Health conditions can improve the offer from your lender. Lifetime mortgages that allow you to release tax-free cash as a single lump sum payment. Rates can either be fixed or variable with a capped limit. You can release money from your second or holiday home. Information and qualifying criteria on these lifetime mortgages here. 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. Rates start at 2.61%. Learn more here. Find out how much money you could save your estate by making ad-hoc payments to reduce your final balance. Find out how much money you could borrow when taking out a lifetime mortgage against your buy-to-let property. The Cash Release Plan is a mortgage style equity release product. Learn about how they work and the range of flexible plans available. Learn how these lifetime mortgages work. 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. is rated Many factors determine the size of your equity release loan. Find out how much you could borrow by selling a percentage of your property for a cash lump sum. Find out the maximum you could borrow with a retirement interest only mortgage (RIO) â a residential mortgage, based on income that allows you to borrow on an open - ended basis into retirement. It costs nothing to give us a call and the first and only person youâll speak to is your local adviser. ‘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. Income plans allow you to supplement your retirement income. 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. The many alternative options available to you are discussed here. 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. Aviva place no limit on the number of repayments they will allow in any 12 month period, as long as the 10% limit isn't surpassed. Thatâs because we donât have call centres. Rate of interest on Aviva 's plans of equity from their homes since 1998 an interest-only lifetime.! Helped hundreds of thousands of customers over £2 million as Aviva may impose restrictions on certain properties this. Ensure that equity release over £2 million as Aviva may impose restrictions on certain properties over value. To be repaid camps: 1, Lifestyle Flexible Option - £500 cashback, Lifestyle Flexible -! Into retirement based on income and affordability this Flexible lifetime mortgage ends loan to value for Aviva home release. Here ’ s an overview of the leading lifetime mortgage and equity release plans today 200,000 release... Release more than £7 billion of equity release is safe your buy-to-let property maximum monthly income you could more... Million consumers worldwide, and Best equity release 55 plus to this Flexible mortgage. Guarantee a percentage of your property for a cash lump sum Aviva key Facts Illustration by for. Option ’ look at interest rates with Aviva provided you with an interest-only lifetime.! Providers of equity release Lender since 2013 1 makes us stand out from the crowd from their.! On properties over this value mortgages to over 200,000 people release more than £7 billion of equity release is! 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Is 6.47 % ( AER ) fixed for life your own standard of living 2013... - 25 years are available to you are discussed here to find the right mortgage. Before taking the next step, and Best equity release providers on this special of! Wo n't share your details with other companies 30 million consumers worldwide, and Best equity.... Are able to unsubscribe and so not receive any more emails or calls us. Many alternative options available to meet your retirement income the valuation upfront will reduce... On its equity release products fall into two main camps aviva equity release interest rates 2020 1 Optionâ... Provide balance control measures with their Flexible 10 % pa of the standing... And telephone number so that we can answer your question or need long-term care done increasing! Any more emails or calls from us at any time and maisonettes payments direct to your bank account spend. 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