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 Equity release

At Aviva, we'll help you and your clients every step of the way when deciding on the right lifetime mortgage for them. We have a range of support materials available to help you and them to understand our products. Alongside this our retirement sales support team will be on hand to answer all your queries.

  Lifestyle Flexible Option

A fixed rate lifetime mortgage that enables clients to take an initial lump sum and still have access to further releases in the future. There are no repayments required until the customer dies or moves into long-term care, subject to our terms and conditions.

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  Lifestyle Lump Sum Max

A lifetime mortgage with a fixed interest rate with the potential to pay out a larger one-off lump sum than our Lifestyle Flexible Option plan, with no repayments required until the customer dies or moves into long-term care, subject to our terms and conditions.

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A market with a considerable business opportunity for you


Debt matters

Some people are using equity release to clear debts. 31% of people are repaying unsecured credit and a further 24% to pay off an outstanding mortgage. Equity release could be a viable option for some older borrowers who may have large amounts of capital to repay on their interest-only mortgages.*

Baby boomers

Now reaching retirement, many baby boomers are asset rich, likely to own their own home and in need of the additional financial flexibility equity release can bring.

Help for a variety of client needs

In 2015 home improvements (61%) was the most common reason for taking out equity release. And research shows that 16% of people were taking out equity release to help them meet the cost of everyday expenses.*

Living longer

By 2034 29% of the population will be over 60 (source: GAD/ONS/Mintel). As people continue to live longer, making funds stretch further is becoming increasingly difficult. Which could result in equity release becoming an essential part of everyday retirement planning.

* Source: Mintel - Equity Release Schemes UK, May 2016 report

We’ve created four films, featuring equity release advisers sharing their experience of the issues and opportunities within the equity release market. They make valuable and insightful viewing.

Video 1 – The Opportunity


Advisers share their experience of opportunities driving new client conversations.

Video 2 – Client needs



Discover how client needs in retirement are rapidly evolving

Video 3 – Part 1 Clients’ concerns


When considering a product what are clients most concerned about?

Video 3 – Part 2 Addressing clients’ concerns


When considering a product what are clients most concerned about?

Video 4 – Factors in choosing an equity release provider


What are the key factors that influence adviser – and client – take-up of providers?

Here you can read a few examples of how clients could  use equity release and take full advantage of the features of our lifetime mortgages.


Lifestyle Lump Sum Max

John, 67, and Linda, 65, need money for home improvements, the cost of living and visiting their daughter in Australia.

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  • John, 67 and Linda, 65 are both retired. 
  • They live in a cottage, worth £250,000, in a small village in the Ribble Valley in Lancashire.
  • They have pensions from previous employment and both have a state pension.
  • However, they’ve been retired for a few years now and have already spent all the tax-free cash which they took out of their pension plans when they retired. 
  • They now need some money to pay for essential home improvements and to help with the rising cost of living. 
  • They’d also like to visit their daughter and grandchildren in Australia. 
The solution for John and Linda

  • They borrow £58,750 as a one-off cash lump sum to pay for the repairs and the opportunity to go on holiday

Lifestyle Flexible Option

George, 71, lives alone after the death of his wife. He has a house worth £300,000 but is struggling to make ends meet.

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  • George is 71. After the death of his wife he lives alone in his home in the West Midlands, which is worth £300,000. 
  • He has no children. He has a small private pension and a state pension but he’s finding it harder to make ends meet.
The solution for George

  • After speaking to his financial adviser, George decides to release some of the money tied up in his home to make life easier and to pay for a new kitchen and conservatory.
  • He borrows £99,000 and decides to take half of this as an initial lump sum and to keep the rest in reserve.
  • George won’t be charged any interest on the money in reserve until he takes it.
  • A few years after taking out his lifetime mortgage, his boiler breaks down.
  • He’s quoted £1,800 for it to be replaced and he’s relieved that he can take out as little as £2,000 from his reserve to cover the cost.

Voluntary partial repayment

Louise, 59, has decided to retire early after losing her husband. She needs extra money to fulfil her ambition of travelling the world.

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  • Louise, 59, is recently widowed. She has a moderate income from her husband’s company pension and her own pension, but won’t receive her state pension until she’s 66.
  • After a lifetime of working, she’s decided to retire early to fulfil her ambition of travelling the world. She’d also like to leave her children, Jane and Matthew, an inheritance.
  • Louise’s home in Surrey is valued at £400,000 and her mortgage has been paid off.
The solution for Louise

  • After talking to her financial adviser, she decides to take out an initial lump sum of £80,000 to cover the cost of her dream holiday.
  • Five years after taking out her lifetime mortgage, Louise’s aunt dies. She leaves her a large lump sum, so Louise decides to repay some of the money she’s borrowed using our voluntary partial repayment feature. She’s able to pay off £8,000 each year without having to pay any early repayment charges.

Enhanced lifetime mortgage

Sally, 73, is receiving treatment for cancer and needs to bolster the income from her state pension so she can spend more time with her family.

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  • Sally is 73 and receiving treatment for cancer.
  • Her home in Wales is worth £150,000 and after spending her life savings she now has just her state pension to rely on.
  • Sally wants to spend more time with her children and grandchildren who live in different parts of the country.
The solution for Sally

  • She decides she’d like to take equity from her home with our Lifestyle Lump Sum Max option.
  • Due to her medical condition, she’s able to borrow a higher percentage of her property’s value (loan to value) and get a lower interest rate than she would be able to otherwise.
  • Sally decides to borrow £64,500, which she uses to spend valuable time with her family.

Inheritance guarantee

Martin, 68, and Sarah, 67 are married with one child. They’d like more money to help with the cost of living, whilst still being able to leave an inheritance.

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  • Martin, 68, and Sarah, 67 are married and have one child, Jane.
  • They both have small private pensions and they also have state pensions.
  • They live in West Yorkshire in a semi-detached property worth £200,000 with no mortgage on it.
  • Martin and Sarah would like to withdraw some of the money tied up in their home to help with the rising cost of living. They also want to leave an inheritance to Jane once they’ve both passed away.
The solution for Martin and Sarah

  • They decide to guarantee 25% of their home’s value for Jane, using our inheritance guarantee. The value of their home could continue to grow so Jane will hopefully receive 25% of a higher value of the property when it’s sold, rather than what it was worth when Martin and Sarah set up the lifetime mortgage.
  • They decide to release £29,875 and take £10,000 of this straight away, leaving the rest in a cash reserve.
  • After five years, they use some of the money in their reserve to help Jane with the cost of nursery school fees for their grandson, Albert.

These case studies are fictional.

A range of features to help you make the most of the business opportunity


With our Lifestyle Flexible Option and Lifestyle Lump Sum Max, clients can enjoy the flexibility of paying back their loan sooner, or guaranteeing that they will leave an inheritance – helping make your conversations easier with clients and supporting you in making the most of the equity release opportunity.

Partial repayment Early repayment Enhanced rates

Why you should look to Aviva for equity release


Features


  • Inheritance guarantee – clients can safeguard a percentage of the value of their property to pass on to their loved ones.
  • No Early Repayment Charge (ERC) when clients downsize – we will not charge an ERC if they choose to downsize their home. Their new home will still need to meet our property criteria before they can move and they may still have to pay back some of the loan if they move to a less valuable property.
  • £2K minimum – clients can release as little as £2,000 from their cash reserve at any one time with our Lifetime Flexible Option.
  • Bespoke pricing – simply input your clients’ requirements and receive a personalised quote.

Excellent service


  • Average time from application to completion is 45 days.
  • Equity release specialists.
  • Quick quote turn around through use of emails.
  • Dedicated account management team.

Our products


  • Awarding winning provider of lifetime mortgages.
  • Flexible features to accommodate client needs.

Trusted brand


  • Been in the equity release market for over 17 years.
  • Members of the Equity Release Council
  • We’ve helped around 198,000 customers release over £6.9 billion.
  • Financial strength as a composite insurer.

Contact us

You can find contact details for each product area in the drop-down list:

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WA11006 08/2016