Compare Aviva Equity Release Quotes Against The Market

Aviva is the UK’s largest equity release provider, backed by centuries of insurance and financial services heritage. Fully compliant with Equity Release Council (ERC) standards, Aviva’s lifetime mortgage range allows UK homeowners aged 55 and over to release tax-free cash from their primary residence while retaining 100% legal homeownership.

For independent advice and a whole-of-market comparison of Aviva's later life lending range, contact one of our equity release advisers below:

Aviva Lifetime Mortgage: At a Glance

What equity release products does Aviva offer?

They offer only one type of equity release: lifetime mortgages.

A lifetime mortgage from Aviva allows you to borrow money against the value of your home while still retaining ownership. The loan amount, interest rate, and repayment terms are determined based on factors such as age, property value, and loan amount. Their equity release plans come with features such as inheritance guarantees, voluntary partial repayments (up to 10% per annum), and enhanced borrowing if you meet certain criteria.

1. Lifestyle Flexible Advantage

Aviva's flagship drawdown lifetime mortgage is designed for borrowers who want flexibility:

• Initial Release & Cash Reserve: Take an initial tax-free cash lump sum (minimum £15,000) and set up an optional pre-approved cash reserve facility to draw down smaller amounts in the future (minimum £500 per drawdown).

• Interest Efficiency: Interest is fixed at the prevailing rate only when funds are drawn down, reducing the total compound interest accumulation over time.

2. Lifestyle Max

Tailored for homeowners who need to maximize their initial cash sum:

• Higher Loan-to-Value (LTV): Offers a higher borrowing limit relative to property value and age compared to standard drawdown options.

• Lump-Sum Focus: Issued as a single tax-free lump sum without a cash reserve facility, making it ideal for clearing significant existing mortgages or funding major life goals.

3. Key Safeguards & Standard Features

• No Negative Equity Guarantee: Ensures that your estate will never owe more than the total sale value of your property when sold following death or a permanent move into long-term care.

• 10% Voluntary Overpayments: Pay up to 10% of the initial loan balance each policy year without incurring early repayment charges, helping manage interest roll-up.

• Downsizing Protection: Included as standard after 3 years. If you decide to downsize to a property that does not meet Aviva's lending criteria, you can repay your lifetime mortgage in full without early repayment penalties.

Lending Criteria & Property Requirements

Applicant Eligibility

• Age Limits: Minimum age 55 with no maximum upper age limit. For joint applications, both borrowers must be at least 55 years old.

• Residency: Must be the primary residence in England, Wales, Scotland, or Northern Ireland (excluding the Channel Islands and Isle of Man). The property must not be left vacant for more than 6 consecutive months per year.

Property & Valuation Criteria

• Property Value: Minimum property valuation of £75,000.

• Tenure Requirements: Freehold houses are standard. Leasehold properties (flats/maisonettes) are considered, provided the sum of the remaining lease term plus the age of the youngest borrower equals at least 160 years (minimum remaining lease length of 75 years required).

• Property Exclusions: Aviva does not lend on age-restricted or retirement apartments, properties built with unusual/non-standard materials, or commercial/mixed-use properties.

Customer Reviews

Aviva maintains strong customer ratings across major financial rating agencies and consumer review channels:

• Trustpilot Community Rating: Aviva holds a strong rating across more than 65,000 customer reviews. Customers praise the clear online account management via the MyAviva portal, professional telephone advisers, and straightforward application processes.

• Defaqto Rating: Aviva’s lifetime mortgage range consistently earns a high Defaqto Rating, reflecting top-tier product features, robust consumer protections, and competitive drawdown flexibility.

• Industry Awards: Recognised across the UK protection and mortgage sectors for excellence in customer care, adviser support, and claims handling efficiency.

Expert Opinion

What interest rates are available?

Aviva's lifetime mortgage mortgage rates are competitive with other equity release providers.

The exact rate you will qualify for will depend on factors including your age and the amount of equity you are releasing.

Want to know how Aviva’s deals compare to other equity release providers? Get in touch and our retirement mortgage specialists will review deals across the market for you and match you with the best equity release deal for your needs and circumstances.

Do you need a broker to access Aviva’s equity release range?

You will need to have consulted with a qualified equity release adviser before Aviva will even consider you for a lifetime mortgage as professional advice is mandatory for equity release.

If an adviser is what you need, you’re in the right place. Our equity release advisers are fully independent and have the right credentials. They each hold a Certificate in Regulated Equity Release (CeRER) or equivalent, and we are members of the Equity Release Council.

This means we have the credentials and experience to help you navigate the equity release market, recommend the best providers for you and guide you through your application. 

We offer a free, no-obligation chat to kick things off, during which we will explain what we can do for you and how much it will cost - get started here.