Equity release

Access some of the current value of your home tax free

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What is equity release?

Equity release is a way of unlocking some of the value of your home and turning it into a tax-free, cash lump-sum.

It’s essentially a long-term loan that’s repaid using your home once you pass away or require long-term care. Until then, you’ll remain a homeowner with no need to move out.

Whatever financial freedom means to you in later life – renovating your home, paying off an interest-only mortgage or helping your children – equity release is designed to help make it happen. 

Entering into a lifetime mortgage (or any form of equity release) will reduce the amount of inheritance you can leave behind. It may also affect your tax position and eligibility for welfare benefits. 

Find out more information on equity release and the types of lifetime mortgages we offer

Get more out of later life with equity release

The type of equity release we offer is called a lifetime mortgage. It’s a way of accessing some of your home’s value and using it however suits you best.

Whether that’s through making those vital home improvements or heading on a trip of a lifetime – the choice is yours.

How does a lifetime mortgage work?

Learn more about our equity release product, the Aviva Lifetime Mortgage.

How do interest and repayments work?

You don’t need to make any monthly repayments. Interest builds up on the loan each year, with both loan and interest repaid from the sale of your home. This happens once you pass away, go into long-term care, or you choose to voluntarily redeem. Terms and conditions apply.

Will you receive your money all at once?

You can receive either a one-off lump-sum payment or a smaller sum, with a cash reserve to draw from. So, whether you're paying the deposit for a loved one’s first home or helping with your grandchildren’s tuition fees, receive your sum in the most practical way for you.

Although it’s important to remember that equity release will reduce the amount of inheritance you can leave and may affect your tax position and eligibility for welfare benefits.

Our awards

Our award-winning service has helped over 200,000 people release more than £7 billion since 1998. And, as a member of the Equity Release Council, your protection is our priority.

Personal Finance Awards winner of Best Equity Release Lender
Personal Finance Awards winner of Best Equity Release Lender
What Mortgage Awards winner of Best Equity Release Lender
What Mortgage Awards winner of Best Equity Release Lender
What Mortgage Awards winner of Best Equity Release Lender Customer Service
What Mortgage Awards winner of Best Equity Release Lender Customer Service
Member of the Equity Release Council
Member of the Equity Release Council

Equity release calculator

Use our calculator to see how much money you could release from your home with our lifetime mortgage.

It's important to understand the features, costs and risks of a lifetime mortgage. It'll reduce the amount of inheritance you can leave, and may affect your tax position and access to welfare benefits.

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You could release up to

The amount shown is only an indication, and isn't guaranteed. To calculate this amount, we compare your age and property value to our 'loan to value' table. This allows us to work out what percentage of your home's value is available to you.

If you'd like to speak to someone about how much you could release go to our contact section.

Sorry, based on your selection we are unable to provide you with an estimated amount. Call us free on 0800 141 3517 to discuss your options.

Benefits and risks

Our lifetime mortgage can help you release capital in retirement and build the lifestyle you want in later life. But it's important to weigh up both the pros and cons before applying.


  • You'll remain a homeowner
    You'll remain the legal owner of your own home until it's sold once you and your partner have passed away or moved into long-term
  • No negative equity guarantee
    You won't ever pass any debt on to your estate or family once you pass away or go into full time care providing your house is sold for the best price reasonably obtainable
  • Flexible withdrawal and repayment options
    Our lifetime mortgage gives you the option to receive either a one-off cash sum or a smaller lump sum with a cash reserve to draw from you'll only pay interest on the money you withdraw and voluntary partial repayments can be made (terms and conditions apply)
  • Tailored interest rate
    We tailor our interest rates to each individual application meaning you'll always get a fixed rate that will never increase and is unique to your personal situation
  • Leave part inheritance
    You can safeguard a percentage of your home's value to leave behind as an inheritance although this may reduce the amount you'll be able to borrow
  • Downsizing protection
    If you want to move, and apply to transfer your lifetime mortgage to a new property that doesn't meet our current lending criteria, downsizing protection can help. If you're eligible, you can repay the lifetime mortgage with no early repayment charge. This feature is available on lifetime mortgages applied for on or after 8 April 2019. Terms and conditions apply


  • Reduced inheritance
    Although you can safeguard a portion of your home's value as inheritance, its sale will go towards paying off your lifetime mortgage so the amount you can leave as inheritance will reduce
  • Potential tax and welfare benefits impact
    Releasing equity can change your tax position and potentially alter your eligibility for welfare benefits a financial adviser will help explain the impact
  • Added interest
    We add interest annually onto both your loan and interest already added, which quickly increases the amount you owe. Everything is then repaid once you die or go into long-term care, usually from the sale of your home, subject to our terms and conditions
  • Lifetime commitment
    If you'd like to end your lifetime mortgage early, then you may have to pay a substantial early repayment charge

Are you eligible?

The amount of equity you can release depends on several factors such as age, property value and property type.

To apply for a lifetime mortgage, you'll need to:

1) Be aged 55 or older (for joint applications, all applicants must be over 55).

2) Own a home within the UK (excluding the Isle of Man and the Channel Islands) worth £75,000 or more.

3) Want to borrow at least £15,000.

4) Live permanently in your home. The property must be your main residence and shouldn't be unoccupied for more than six months at a time.

5) You are mortgage-free, or have only a small mortgage on your property. Not paid off your mortgage? No problem you can still apply. Any outstanding mortgage debt can be paid off using the money you receive.

How to apply

Our lifetime mortgage usually takes around 8-12 weeks from application stage to when you receive your sum. It’s a big decision and a lot to think about. Here’s how the process works.

Step 1

Get expert advice

Aviva Equity Release UK Limited can put you in touch with an equity release financial adviser who'll review your needs and future plans with you in person.

If our lifetime mortgage is right for you, they'll be able to give you a personal illustration and highlight the benefits, as well as the costs and risks. If you'd like to choose your own adviser, a fee will be charged.

Find contact information below.

Step 2

Think it over

Discuss your plans and options with your family and decide whether a lifetime mortgage is right for you.

If you decide to go ahead, you can complete your application form with your financial adviser.

They'll then arrange an independent valuation of your home and confirm exactly how much money you can release, provided it meets our requirements.

Step 3

Application complete

Once we've reviewed your application, you'll receive your offer which will confirm the amount you can borrow.

Discuss the plan with your financial adviser and solicitor, then sign the legal paperwork.

When everything is complete, you'll receive the money through your solicitor.

Get in touch

Existing customer? Please click here for contact information.

A lifetime mortgage can only be taken with financial advice. Aviva Equity Release UK Limited has selected financial advice firms who will advise only on Aviva's products. They're not employed by Aviva and they're responsible for the advice they give. 

In light of the coronavirus pandemic, we're changing the way we work. Currently, Aviva isn't able to take calls from new equity release customers, but you can contact these selected advice firms directly. They'll ask you some eligibility questions, provide information on Aviva Lifetime Mortgages and, if you'd like to go ahead, set up an appointment with an adviser. 

New customers can contact Lifetime Mortgage Direct or Retiredom for more information:

Lifetime Mortgage Direct

0800 612 5476

Monday to Friday: 9:00am - 5:00pm

Lifetime Mortgage Direct have been selected to provide information and financial advice on Aviva Lifetime Mortgages. They are authorised and regulated by the Financial Conduct Authority.

Retiredom Equity Release

0800 023 9253

Monday to Friday: 8:00am - 8:00pm

Saturday 8:30am - 5:00pm

Retiredom Equity Release have been selected to provide information and financial advice on Aviva Lifetime Mortgages. They are authorised and regulated by the Financial Conduct Authority.

Existing customers

You can still speak to the team by calling 0800 158 4177. Lines are open Monday to Friday, 9am to 5pm. You can also manage your account online. 

For our joint protection, telephone calls may be recorded and/or monitored and will be saved for a minimum of 5 years. Calls to 0800 numbers from UK landlines and mobiles are free.

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