Aviva
About Aviva
Since we began offering lifetime mortgages in 1998 we’ve helped more than 110,000 people to enjoy the benefits of equity release by releasing over £3.7 billion to our customers.
We’re a long-established member of Safe Home Income Plans (SHIP), a group set up in 1991 to help protect people taking out equity release. Our no negative equity guarantee offers customers the security that they'll never have to pay back more than the money they receive from the sale of their property, as long as it's sold for the best price reasonably obtainable.
In both 2010 and 2011 we were named “Best Lifetime Product Provider” at the What Mortgage Awards.
Our products
As one of the UK’s largest providers of equity release, we know that everyone has different needs so we’ve developed two lifetime mortgage solutions designed to give flexibility and peace of mind.
Our fixed rate lifetime mortgages are available from age 55 with minimum property values as low as £75,000. Depending upon age and the product chosen our LTVs can be as high as 51%.
All our lifetime mortgages come with an inheritance guarantee option. This gives customers the peace of mind of knowing their family or estate will benefit from receiving a guaranteed proportion of the value of their property when they die or go into long-term care. Our products are:
- Lifestyle Flexible Option - a fixed rate lifetime mortgage that enables clients to take a lower initial lump sum and still have access to further sums in the future, with no repayments required until the customer dies or moves into long-term care.
- Lifestyle Lump Sum Max - a fixed rate lifetime mortgage paying 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.
Enhanced rates for your clients
With our Lifestyle Lump Sum Max product, if your client has a medical or health condition that meets the criteria for enhanced rates, they’ll be able to get a better deal. Enhanced rates give your client two options:
- The chance to borrow more. For example, if we take the average property value for Aviva equity release customers of £230,000, borrowing 5% more means an extra £11,500.
- Release more cash, but leave a greater inheritance for their loved ones. An enhanced rate gives them a greater LTV, letting them set up an inheritance guarantee without skimping on the amount they want to borrow.
So make sure you take the time to talk to your client about their health and lifestyle. It could make a big difference to their life.
Paradigm advisers
For business submitted by Paradigm advisers we offer the following additional benefits:
- Customers will benefit from lower interest rates. We are pleased to offer interest rates 0.25% lower than our standard rates normally available to financial advisers.
- We are also offering improved commission terms. We are pleased to offer commission rates 0.10% higher than our standard rates available to financial advisers, and will pay 2.10% commission on the initial loan that’s taken out. When you recommend our Lifestyle Flexible Option, we’ll also pay a further 0.70% commission on any reserve set up, up to a maximum of £550. Please note part of the commission fee is paid to Paradigm.
Aviva for advisers
In our library, you’ll find a variety of literature to help both you and your client learn more about our products and services. We’ve got all the product literature you’d expect to find, plus a number of documents to support you. So, from brochures to application forms, insight reports to market commentary, we’ve got it all here for you. Click here to visit our site.
Our team
The Aviva At Retirement sales and support team will work alongside your existing consultant to ensure that you benefit from their expertise. They can help you with:
- Rapid and reliable service
- Product specialist knowledge
- Tailored support to meet your needs
- Specialist pre-sales assistance
- Case tracking
- Regular updates on product and market development
Most of all we will be there to help you get the best for your clients. You can contact the team on:
Presales and Quotes: 0845 300 2837 New and Existing business: 0845 302 0111
email: retirementsupport@aviva.co.uk