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Aviva

Aviva is the fifth largest insurance group in the UK and offers life and pension products across Europe. The group is actively expanding and promoting its savings products in Asia, Australia and the USA. With 54,000 employees and 50 million customers worldwide the group currently manages funds in excess of £381 billion.

If you are over 55 and own your own home you can apply for an equity release plan and take advantage of the capital that is available in your home. You can agree to sell a share of your property and continue to live there for the rest of your life or until you move into a long term care home. Aviva are members of SHIP (Safe Home Income Plans), an organisation that monitors the products offered by its members in order to protect customer's interests.

You can apply for a lifetime mortgage or an equity release plan - these products may affect your tax situation or entitlement to state benefits and will reduce your inheritance. You will receive a lump sum that may be used for any purpose and you can release more cash at a later date, subject to the value of your home.

You will need to discuss your decision with a financial advisor to ensure that the product is suitable for your needs.

These products are not available if you live in the Channel Islands or Isle of Man and other restrictions apply in Northern Ireland and Scotland.

Aviva Mortgage Products

Lifetime mortgages: You will receive a lump sum and will not have to make any monthly payments but interest will accrue and therefore the amount of money that you owe will increase over time. The total amount owed will be payable when you die or move into long term care and the property is sold. There is a guarantee that whatever happens to property prices in the future you will never owe more than the value of your home.

Home Reversion Plans: You can agree to sell a share in your property and continue to live rent free until your death or you move into long term care, at which point the property will be sold and your estate will receive the appropriate share from the sale. You may be able to arrange a 'house price inflation' guarantee to ensure that you benefit from any increases in property prices.

 

If you are interested in a mortgage quotation including those offered by Aviva please complete our quick enquiry form.