Aviva Lifestyle Enhanced Lifetime Mortgage
Aviva’s Enhanced Lump Sum Max is an immensely popular product amongst this niche enhanced lifetime mortgage market.
With its unique features it can offer a person with poor health the security of knowing they & their beneficiaries, could be financially sound by being in receipt of a fixed rate of interest for life. Aviva’s form of ill-health equity release plan provides a single cash facility, based on age, health records & property type and valuation.
Aviva also offer a range of options which can be built into the plan. These include an inheritance protection option which allows you to fix a percentage of the final property sale for your children.
Aviva’s range of in-retirement products and services are authorised and regulated by the Financial Conduct Authority and is a member of the Equity Release Council and adheres to a code of conduct.
*TOP TIP: Jump onto Aviva’s low fixed interest rate with extra benefits of cashback & free valuation!
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About The Aviva Enhanced Lifetime Mortgage Scheme
This impaired life equity release scheme is based on the existing range of Aviva equity release schemes – the Lifestyle Flexi option & the Lump Sum Max plan.
The ‘enhancement’ from Aviva provides an additional lump sum amount to their standard rates, should a history of ill-health persist. This enables people over 55 to raise the maximum tax-free cash available, if normal equity release schemes cannot provide sufficient funds.
Aviva will require the completion of their enhanced lifestyle questionnaire which needs more data than both Partnership and more2life’s standard questionnaire. This is then analysed by Aviva’s underwriters to see whether enhancement could apply dependent on the medical conditions that persist. Aviva will also request 100% doctors reports to ensure that details confirmed by the client are accurate & can form the basis of their equity release offer.
In summary, the more impaired the health of the applicant is, the greater the lump sum will be.
Aviva’s Key Features
- Plans start from age 55
- Rates starting from 5.68% fixed for life
- Minimum Loan – £10,000
- Minimum property value is £75,000
- Available to homeowners in England, Scotland, Wales & N. Ireland
- Inheritance Protection option (safeguards a percentage of your property)
Examples Of Where That Extra Aviva Cash Can Make A Difference
Primarily, people opting for an enhanced equity release scheme are looking to borrow as much as they can possibly get. There maybe many reasons for the maximum equity release amount.
From our experience, we have included below a short list of reasons why clients have needed the largest equity release possible:-
- To be able to repay the whole of their interest only mortgage on reaching retirement
- To consolidate the maximum amount of debt possible, because a standard equity release mortgage is insufficient
- Clients who have no children/beneficiaries & have expressed no concern about leaving any inheritance behind
- Because the extra tax-free cash available will provide the necessary funds to carry out ALL objectives planned
- When health is that severe, that clients wish to fulfil their dreams before they are physically unable to
Aviva Lump Sum Enhanced Equity Release Plan
To check whether your health qualifies for an enhanced equity release scheme, please call our experts on freephone 0800 678 5469.
Alternatively, complete the find an adviser request form opposite, or send us a completed contact form by clicking here.
NB. Aviva no longer are able to offer advice on their own products after closing down the Aviva employed advisory sales force in July 2013.
Aviva now can only refer to you to a partner offering their deals which are less competitive than seeking advice from an independent equity release adviser.
Always speak to an independent equity release adviser with relevant qualifications and experience to get the best Aviva rates & deals.
These are lifetime mortgage plans. To understand the features and risks of enhanced lifetime mortgages, request a personalised illustration.
