What is equity release?
Equity release refers to any product that allows you to unlock cash from the value of your home.
Whatever financial freedom means to you in later life — renovating your home, helping your children, or simply supplementing your income — equity release is designed to help.
The type of equity release we offer is a lifetime mortgage. It's a long-term loan on the value of your home, which is repaid, usually from the sale of your home, when you (and your partner, for joint lifetime mortgages) die or need to go into long-term care, subject to our terms and conditions.
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 about equity release and the different types of lifetime mortgages we offer.
Get more out of later life with a lifetime mortgage
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. Instead, interest is added each year, both to the initial loan amount and any interest previously added, which quickly increases the amount you owe. The loan and interest are repaid, usually from the sale of your home, when you die or need to go into long-term care, subject to our terms and conditions.
Will you receive your money all at once?
We offer two lifetime mortgage products, so you can either choose to receive a one-off lump sum payment, or choose to receive a smaller lump sum and set up a cash reserve to draw from when you wish. So, whether you're paying the deposit for a loved one's first home, helping with your grandchildren's tuition fees, or just treating yourself to a few of life's little luxuries, you can take the money in the way that suits you best.
Although it’s important to remember that a lifetime mortgage will reduce the amount of inheritance you can leave and may affect your tax position and eligibility for welfare benefits.
Why Aviva?
We offer an award-winning service that has helped over 250,000 people release more than £8 billion since 1998. And, as a member of the Equity Release Council, your protection is our priority.








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.
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.
Benefits
- You'll remain a homeowner
You'll retain full legal ownership of your home. - No negative equity guarantee
You or your estate will never have to pay back more than your home can be sold for, providing it's sold for the best price reasonably obtainable. - Flexible withdrawal and repayment options
Our lifetime mortgages give you the option to receive either a one-off lump sum or a smaller cash 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, subject to our terms and conditions. - 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 will reduce the amount you'll be able to borrow - Portable
You can apply to transfer your lifetime mortgage to a new property. The new property must meet the lending criteria at the time of application. - Downsizing protection
If you want to move home and the new property does not meet the lending criteria, you can repay your lifetime mortgage with no early repayment charge. To benefit from downsizing protection, you need to have held your plan for 3 years or more.
Risks
- Reduced inheritance
Although you can safeguard a portion of your home's value to leave as an inheritance, paying off the lifetime mortgage will still reduce the amount available to your beneficiaries. - 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 - Build-up of interest
We add interest annually onto both your loan and interest already added, which quickly increases the amount you owe. Everything is then repaid, usually from the sale of your home, when you die or go into long-term care, subject to our terms and conditions. - Lifetime commitment
A lifetime mortgage is usually designed to run for the rest of your life, until you die or need to go into long-term care. If your circumstances change and 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 remaining on your property. Any outstanding mortgage must be repaid from 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.

Get expert advice
If you don't have a financial adviser, 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. A financial adviser may charge for their services.
Find contact information below.

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.
We'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 through your solicitor.
Get in touch
Existing customer? Please click here for contact information.
Aviva Equity Release UK Limited has carefully selected these financial advice firms. They're not employed by us and they are responsible for the advice they give. They'll ask you some eligibility questions, provide information only on Aviva Lifetime Mortgages and, if you'd like to go ahead, set up an appointment with an adviser.
Home Equity Release Service
Monday to Friday: 9:00am - 5:00pm
Home Equity Release Service 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
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.
Equity release articles
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Aviva Equity Release UK Limited, Registered in England No 3286484. Registered Office: Aviva, Wellington Row, York, YO90 1WR. Authorised and regulated by the Financial Conduct Authority. Firm Reference Number 310433.