If you prefer, you can make a complaint online using our complaint form. Aviva will keep your house deeds until every penny is paid back. In 2003, they saw a financial adviser and borrowed £42,900 as an equity-release loan, at 7.1 per cent, from insurer Aviva. However, there are a number of potential pitfalls and issues to be aware of if you are thinking of taking out an equity release deal. contact us to arrange your free consultation, Properties with a small home-based business, Homes with a tenant, with a suitable tenancy agreement, Homes where one or two rooms within the main home or a self-contained part used for B&B and holiday lets (inc Airbnb)... guest stay mustn't be beyond 30 consecutive days, Houses with land and buildings in personal agricultural or equestrian use, Thatched properties including grade I and II* and many historic building techniques. In 2019 Aviva also added a downsizing protection feature to their lifetime mortgages. I am glad that you found my article helpful. While both John and Jane are not planning to trigger any early repayment charges, the addition of the significant life event exemption is of good value to the couple. they shouldn’t have to pay the early repayment charge – because they need long-term care and their mortgage has an … Let's run through some examples of prime Aviva clients: Jane is 67 years old and lives in a three-bed semi-detached house. It is a publicly limited company, listed on the London Stock Exchange and a member of the FTSE 100 index. " 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. equity release wasn’t right for them – because they’d always planned to move or downsize. Our equity release calculator is FREE and easy to use.Simply complete the form below. Instead of having standard pricing tiers like every other lender, Aviva offers bespoke pricing. During the last 18 years, more than 200,000 customers have chosen us to unlock over £7 billion from their homes to help fund their retirement. Mortgage application Read More, Responsible Equity Release - www.responsibleequityrelease.co.uk, by However, there are certain types of client who from my experience, I am more likely to recommend an Aviva equity release plan. Written on: 22/11/2018 At Schroder’s UK Platform Awards 2020. While other lenders who are members of the Equity Release Council offer the same protections, many clients like the fact that Aviva is a well-known brand that they trust. The Aviva equity release review focus’ on Aviva who are one of the most established equity release lenders in the UK, having provided lifetime mortgages for over 200,000 people since 1998. Aviva Equity Release Loans Instead Aviva will put you in touch with a financial advisor who will only advise on Aviva equity release plans. My father borrowed £35,000 in 2002. We can often resolve concerns right away, so please as a first step get in touch with your usual contact, such as your broker or the Aviva team dealing with your claim or the sale or servicing of your policy. "Clear and simple advice"That's the Money Release promise! " Speak to a financial adviser before going ahead with Aviva equity release. And hopefully, you have an idea whether you could be an Aviva equity release client. Take, for example, Aviva's equity release offering. They are looking to take £50,000 equity release now to gift to their two children as an early inheritance, but plan to make repayments before they reach retirement. In a recent bulletin then have stated: We now lend on properties that have an element of personal commercial use (under 50% of the total property to be secured). He visited my home & was able to clarify & explain everything thoroughly, in a very professional way. It is this unknown variable which makes Aviva's equity release plans unsuitable for certain types of client. He does not wish to make any repayments whilst he is living at the property and plans to reside for the remainder of his life. If an equity release/lifetime mortgage was sold to you before the equity release plan’s scheme minimum age (usually age 55, but in some cases age 60 or 65), it could have been mis-sold to you. Aviva offers all their lifetime mortgages with GILT based Early Repayment Charges (ERC's). NelsonBentley (1 review written). Most other lenders offering a similar exemption would typically only apply this after five years of the lifetime mortgage being in place. Find the information you need to know about Aviva Equity Release lifetime mortgages in this review, use the calculator and discover how much you can raise tax-free with Aviva Equity Release. Exceptional service, couldn't recommend more! Our elegibility calculator is FREE and easy to use.Simply complete the form below. If you borrow more or borrow from your cash reserve, you can also repay up to 10% of those amounts each year.". To understand the full features and risks of an Equity Release plan, ask for a personalised illustration. This feature becomes available to all new clients whose lifetime mortgage has run for a minimum of three years. Both John and Jane are in good health and expect to retain their equity release plan for as long as they live if they do not move. To calculate the top 5's we take the following factors into account: Your Mortgage Decisions - www.yourmortgagedecisions.com, Deal Direct Financial Solutions Ltd - www.dealdirectfinancial.co.uk, Sandpiper Mortgages - www.sandpipermortgages.co.uk, Every Mortgage Solution Ltd - www.everymortgagesolution.co.uk, Bad Credit Mortgages - www.badcreditmortgages.co.uk, Best Buy To Let Mortgages - www.bestbuytoletmortgages.com, Mortgage Broker - www.mortgagebroker.mortgage, Merrell Men's Intercept GORE-TEX Walking Shoe. While a qualified equity release advisor has written this guide, it is not intended to be used as financial nor legal advice and should not be relied upon. “Aviva Equity Release” Written on: 22/11/2018 by NelsonBentley (1 review written) My father borrowed £35,000 in 2002. You'll need to tell us: Your personal details; Your policy/claim details I have found this feature a high-value proposition when advising clients who are looking to make a joint application. 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