Equity release

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Use some of your home's value to live life your way

Equity release unlocks tax-free cash from the value of your home without you needing to move out – and with our lifetime mortgage, you can do exactly that.

You’ll remain a homeowner

There’s no need to move – you’ll still own 100% of your property once you've released its equity

No negative equity guarantee

Never pay back more than what your property is sold for, as long as it’s the best price reasonably obtainable

Tailored interest rate

We'll always give you a personalised interest rate based on your individual circumstances

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.

Is our lifetime mortgage right for you?

Our lifetime mortgage is designed to help homeowners aged 55 and over raise money to fund whatever matters most in life.

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 does it work?

Our lifetime mortgage is essentially a long-term loan secured on your property. You don’t need to make any repayments before the end of your plan. We’ll still add interest onto the loan each year at a fixed rate, but both the loan and the interest are repaid in full, usually from the sale of your property when you die or go into long-term care. Terms and conditions apply.

How can it help?

The minimum you can borrow with our lifetime mortgage is £15,000. And you're free to spend the cash however you see fit. You might be thinking about renovating your home and making it easier to live in during later life. Or perhaps you'd like to lend a financial helping hand to your family. Whatever you want from life, the Aviva lifetime mortgage helps make it happen. But, it will reduce the amount of inheritance you can leave and may affect your tax position.

What is a lifetime mortgage?

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You’ve probably seen the value of your home increase over time and this could mean that you may be able to use some of this equity to release a cash sum.

You may not look on your home as part of your financial planning but if its value has gone up, you may have been saving for your future without realising it.

If you’re over 55 and you own a home worth at least £75,000 you may be able to unlock some of your equity and turn it into tax-free cash with an Aviva lifetime mortgage. It’s not suitable for everybody as it depends on your personal circumstances.

And releasing equity may affect your tax position and any entitlement to welfare benefits.

Also, you may have savings and it could make sense to use these first. But if you’re eligible, it’s a way to access money tied up in your home, without having to move.

There are no monthly repayments. The loan and interest are repaid usually from the sale of the house when you die or go into long term care. This is subject to our terms and conditions.

Interest will be added to the loan and interest previously added each year. This quickly increases the amount you owe, although you have the option to make limited repayments after you’ve had the loan a year, if you like.

A lifetime mortgage will reduce the amount of inheritance you can leave, but an inheritance protection guarantee lets you safeguard a percentage of the value of your home to leave to your loved ones, although this will reduce the amount that you are able to borrow.

So, how could you use the money? Well, perhaps you need to make home improvements or, adaptations to your home as you get older, meaning you can stay put even if health and mobility becomes more of an issue.

Maybe you could help your kids towards getting on the property ladder, help fund your grandchildren’s education,or use it for special treats, like a nice holiday or a new car.

So you might find you can hang on to all those good memories tied up in your home and make some more for the future.

You can read more about the features, costs and risks at www.aviva.co.uk/retirement/equity-release.

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

Call us free on 0800 141 3517 to check if you’re eligible and schedule an appointment with an adviser 1.

Lines are open Monday to Friday, 9am - 5.30pm (closed on bank holidays).

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.

Unfortunately, based on your details you wouldn’t be eligible for equity release from Aviva.

Whilst our equity release might not be right for you, you could consider speaking with a financial adviser to explore other options. If you don’t currently have a financial adviser, you can visit www.unbiased.co.uk to find one in your local area.

Benefits and drawbacks of a lifetime mortgage

A lifetime mortgage can help give you a financial boost in retirement and build for the lifestyle you want in later life. But it's important to weigh up both the benefits and drawbacks 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 care
  • 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 two options: Lifestyle Lump Sum Max, where you receive a one-off cash sum, and Lifestyle Flexible Option where you receive a smaller lump sum and 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
  • Our inheritance guarantee
    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


  • 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. Then, everything’s 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. Your remaining mortgage will have to be paid off as a condition of taking out an Aviva lifetime mortgage. You can do this from the amount you borrow


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.


Get expert advice

We 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.

To get started, just call us on 0800 141 3517. 1


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.


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 though your solicitor.

Get in touch

To find out if you’re eligible for a lifetime mortgage or to book an appointment with an adviser, just give us a call. Already have a lifetime mortgage with us? Try using our FAQs if you’re looking for help. But you can also contact us to manage your account.

New customers

0800 141 3517

Monday to Friday 9:00 - 17:30

Existing customers

0800 158 4177

Monday to Friday 8:00 - 20:00

Saturday 8:30 - 17:00

Sunday 10:00 - 16:00

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.

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Contact us

Still need help? Give us a call

0800 141 3517

Monday to Friday: 9:00 - 17:30