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You asked: What is equity release?Equity release is a way of releasing some of the money that's tied up in your home, providing you with a cash lump sum. Aviva offers lifetime mortgages which are a type of equity release plan.
You can continue to live in your home and use the money to get more from your retirement. Whether it's to top up your income, make home improvements, buy a new car or even take a special holiday - it's up to you how you spend it.
Taking a lump sum, plus the costs, will reduce the value you have in your home, and therefore the amount of any inheritance you leave. Your tax position and any entitlement to welfare benefits may also be affected.
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.
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