Aviva Home

On January 18, 2009 by Lauren

As many of Britain’s population become “asset-rich” but “cash-poor”, many people are turning to Aviva Life – Equity Release options to pave the way to greater financial freedom. With their award-winning products, over 100,000 people have used Aviva Home plans to retire comfortably, with few financial worries.

Aviva has been providing equity release for over 12 years, using lifetime mortgages. These are long-term loans where you receive a certain amount of money based on your property’s value while you continue to own and live in your home.  The beauty of the lifetime mortgage is that you don’t have to make any monthly payments while the loan is active. The amount you receive and the interest you accrue will be repaid when your property is sold after you pass away or go into long-term care.

Aviva’s lifetime mortgages are available in two packages. The first is the Lifestyle Lump Sum Max, which lets you receive a large, one-time cash sum at the beginning of the plan.  The second option is the Lifestyle Flexible Option, which gives you a lower lump sum at the start of the plan. However, you also get access to a reserve of cash, should you need it in the future.  Either way, you won’t run out of money for your daily needs and anything you wish to spend on. You can continue to live comfortably in your property for the rest of your life, without worrying about monthly payments.

An equity release is a long-term commitment that will affect the amount of inheritance you leave and your tax position. To help you determine if this is the best decision for you, Aviva offers a no-obligation appointment process where an advisor sits down with you to discuss their products and answer any questions you might have.

During your first appointment, the advisor will get to know your needs and retirement plans. You will then receive a recommendation that suits your unique circumstances. If another option is more suitable for you, you will be informed immediately. But if you might benefit from a lifetime mortgage, the advisor will give advice on the best product for you, how much money you can receive, and other costs.  Aviva encourages you to keep your family involved in the decision-making process and help you understand the risks and benefits of taking a lifetime mortgage.

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