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Lifestyle Lump Sum Max

Flats to landed estates

Help your clients live life to the full

With our Lifestyle Lump Sum Max, your client can borrow a one-off tax-free cash sum of £15,000 or more to use in whichever way they choose. The amount available will depend on the age of the borrower(s) and the value of the property.

No repayments are normally needed, as the loan’s usually repaid in full from the sale of the property when your client dies or moves into long term care, subject to our terms and conditions.

How to get a quote and apply

Our rates are based on your client’s individual circumstances, so please call us to get a quote for your customer.

0800 015 4909

We’re open 8.30am to 5.30pm, Monday  to Friday.

Already had a quote? Apply now –download an application form

Why choose Lifestyle Lump Sum Max for your clients?

Our Lifestyle Lump Sum Max is a fixed rate lifetime mortgage that pays a tax-free lump sum (of £15,000 or more) to your client.

Your client continues to own their home, and they can live in it until they die or move into long-term care, subject to our terms and conditions. In the case of joint lifetime mortgages this applies to both partners. Interest builds up through the life of the mortgage and is charged on the amount borrowed and interest already added, which can quickly increase the amount owed. It will also reduce the amount of inheritance they can leave. Your client won't have to pay tax on the amount they release, but it may affect their tax position and eligibility for certain welfare benefits. 

Because it’s a one-off lump sum, Lifestyle Lump Sum Max can be particularly suitable if your client has something in mind they need to use the money for – like home improvements, or to give children or grandchildren a helping hand.

Great benefits as standard

  • Your client receives tax-free cash which they can spend as they choose.
  • No need to make any repayments during the loan term under normal circumstances (terms and conditions apply).
  • Interest rates are guaranteed for 14 weeks from when we receive the application form from you, and then fixed on completion of the loan.
  • No upper age limit – whether your client is 55 or 105 they could make use of the equity in their home.
  • Online access – you and your client can see up-to-date policy details 24/7.

Peace of mind

  • No negative equity guarantee – your client or their estate won’t have to pay back more than the property sells for (as long as it's sold for the best price reasonably obtainable). 
  • Optional inheritance guarantee – your clients may be worried that the inheritance they can leave will be reduced. The guarantee allows your client to safeguard a percentage of their home’s value for their beneficiaries.
  • Voluntary partial repayment – allows your client to repay 10% per year of the lifetime mortgage.
  • Moving home option – your client may be able to transfer their lifetime mortgage to a new home (it must meet our lending criteria at the time).
  • If the new property doesn't meet our lending criteria the mortgage will need to be repaid. However if you are eligible for Downsizing Protection you can repay without an early repayment charge. (This feature is available on lifetime mortgages applied for or or after the 8 April, 2019 - subject to terms and conditions) 
  • Your client may be able to borrow more in the future, though we can’t guarantee this and it would depend on our lending criteria at the time.

Enhanced rates

  • Clients with certain health or lifestyle conditions could benefit from lower rates of interest or a higher loan to value.

Here are the key things you should know about Lifestyle Lump Sum Max:

For more detailed information please read our Lending criteria document.

Criteria Limits  Additional information

Age limits

Minimum age: 55 (no maximum)

For joint policies, both parties must be 55

Property value

Minimum value: £75,000 (no maximum)

With flats and maisonettes, 85% of the property’s value is used when calculating the loan

Loan amount

£15,000 to £1million

We specialise in large loans, and will consider larger loans on request

Loan to Value (LTV): single applicant

Minimum LTV 20.5%, minimum age 55 For more info about our LTVs (including possible enhanced rates which depend on your client’s health and lifestyle), read our adviser guide
Maximum LTV 52%, age 85+
Loan to Value (LTV): joint applications Minimum LTV 17.8%, minimum age 55 (based on the youngest person) For more info about our LTVs (including possible enhanced rates which depend on your client’s health and lifestyle), read our adviser guide
Maximum LTV 51%, age 85+ ( based on the youngest person)
Residency - The property must be in England, Wales, Scotland or Northern Ireland, and cannot be in the Channel Islands or Isle of Man. It must be your client’s main residence and must meet our lending criteria. If the property is leasehold, the sum of the years remaining on the lease plus the age of the youngest borrower must equal at least 160 years.
Voluntary partial repayments

Minimum: £50

Maximum: 10% of overall amount borrowed

Each year clients can repay a maximum of 10% of the total overall amount they’ve borrowed. The payment will be applied to the lifetime mortgage on the day it is received which will reduce the total amount owed, and the amount on which we charge compound interest will reduce.

This is only available to clients who applied for their lifetime mortgage on or after 28th April 2014.

Early repayment charge Maximum: 25% of each amount borrowed

Clients may face an early repayment charge if they wish to repay the loan in full before they die or move into long-term care. The amount charged will apply to each amount the client has borrowed. In some situations an early repayment charge won’t apply – for details see our terms and conditions


No early repayment charge on first death only applies to customers who apply for their lifetime mortgage on or after 28th April 2014.

For full details of our charges please see our Tariff of Charges

Other charges may apply.


Charge Details


Calculated on a daily basis and compounded annually
Arrangement fee

This will be shown in your client’s Key Features Illustration

Early repayment charge

Early repayment charges may apply if the loan is repaid for any reason other than those mentioned in our terms and conditions.This could be up to 25% of the loan value, including any additional borrowing. There may also be an administration fee. For full details see our Tariff of Charges

Legal fees

Your client is responsible for paying their own legal fees. Aviva's legal costs and any disbursements are covered by the arrangement fee. Full details of these costs can be found in the Tariff of Charges

Commission 2.25% of the initial loan
Re-valuation fee If your client’s application takes longer than six months to process they’ll need another property valuation. See our Tariff of Charges for details
Re-inspection fee £60 if the home needs to be re-inspected (e.g. after essential repairs have been carried out) 
Additional borrowing fees Please see our Additional borrowing brochure and Tariff of Charges for applications on or after 28 April 2014 

Valuation fees

Property value  Valuation fee

£75,000 – £150,000


£150,001 to £300,000


£300,001 to £500,000


£500,001 to £750,000


£750,001 to £1,000,000

 £1,000,001 to £1,100,000  £920
£1,100,001 to £1,200,000  £1,120

£1,200,001 to £1,500,000


£1,500,001 to £2,000,000


Over £2,000,000

Speak to your usual Aviva contact to find out more. If you don’t have one, please contact us

Who is Lifetime Lump Sum Max suitable for?

The uses of lifetime mortgages have changed over the last few years, and are not just a last resort solution as they may previously have been viewed by some. There are a number of wider issues facing customers, and the UK more widely, that lifetime mortgages are one solution to. Lifetime mortgages are used for a number of purposes, including, for example:

  • Younger generations struggling to get on to the housing ladder – releasing value locked in older generations houses


  • Quality of life – remaining in their own home and staying independent is a key aim, with home adaptations and paying for care beyond that provided by the state

  • Sourcing of later life borrowing where traditional mortgages are not an option – for example to replace interest only mortgages where no repayment vehicle is in place


It's designed for clients who:

  • are homeowners aged 55 or over who need to raise capital
  • have no mortgage or can pay off their mortgage with the proceeds of the loan
  • have a minimum property value of £75,000
  • need to borrow at least £15,000 (the minimum available under our lending criteria)
  • require a fixed rate of interest throughout the term of the lifetime mortgage
  • live in the UK (excluding the Channel Islands and the Isle of Man).

It’s unlikely to be suitable for clients who:

  • have savings or other money they could use instead, unless part of wealth planning
  • would prefer to sell all or part of their home rather than take a loan
  • already have a large mortgage which they wouldn’t be able to pay off with the proceeds of the loan
  • would prefer to sell the property and downsize.

Things your client should do:

  • Involve their family in the decision.
  • Ensure both parties (in the case of couples) understand the commitment.
  • Consider the impact on their state and welfare benefits.
  • Consider whether releasing equity could affect their tax position.
  • Consider how releasing equity will reduce the amount of inheritance they can leave.
  • Ensure they’re prepared to commit to this for life, as early repayment charges could be expensive.
  • Ensure they understand costs involved, particularly the build up of interest throughout the life of the mortgage.

Possible alternatives to using this product:

  • Sell or use other assets.
  •  Local authority or other type of grant.
  • Take a standard secured or unsecured loan, if they can afford the repayments.
  • Sell their home and downsize.
  • Adjust their standard of living.
  • Move in with children.
  • Borrow money from family.
  • Sell part or all of their home using a home reversion plan.

Contact us

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

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WA11004 04/2020