Aviva Equity Release Review October 2025

 

Equity release can be a way to unlock money from your home later in life, but it’s a big decision with long-term implications and risks. Aviva is one of the UK’s largest and most established providers of lifetime mortgages, with over 300,000 customers since 1998.

In this review, we look at how Aviva’s equity release plans work in 2025, their main pros and cons, interest rates, and customer feedback. We’ll also touch on how Aviva compares with broker-led options such as Age Partnership, who search across market-leading lenders (including Aviva) to help you find the right deal for you based on your circumstances.

At a glance

• Plan types: Aviva offers two options — a One-off lump sum or the Lifestyle Flexible Option, which provides an initial lump sum plus access to a reserve that you can draw on later.
• Safeguards: All plans include a no negative equity guarantee, so you’ll never owe more than your home’s value. Optional inheritance protection lets you ringfence part of your property’s value. You can also move your plan to a new property if it meets Aviva’s criteria (portability) and benefit from downsizing protection if you move after three years (for plans taken out since April 2019).
• Eligibility: Youngest borrower must be 55 or over. Property must be a UK main residence (excluding Isle of Man and Channel Islands) and worth at least £75,000. The minimum loan is £15,000, and any existing mortgage must be cleared at or before completion.
• Making repayments: Monthly payments are not required, but you can make voluntary repayments of up to 10% of the amount borrowed each year. The minimum repayment per instalment is £50 (applies to plans taken out since 28 April 2014).
• Rates: Aviva’s rates are personalised and change frequently depending on your age, property value, and loan size. Interest is calculated daily and added annually.
• Ownership: You remain the homeowner throughout. With the Lifestyle Flexible Option, interest only applies to funds you release, not money left in your reserve.

How Aviva’s Lifetime Mortgages Work

You apply → Get a personalised rate → Legal checks → Money is released → Interest rolls up (unless you repay) → Loan repaid when the last borrower dies or enters long-term care.

Aviva plans in detail

Aviva offers two types of lifetime mortgage plan, designed to suit different needs:

1) One-off lump sum

This option gives you a single release of tax-free cash, secured against your home. It’s straightforward and works well if you know you need a set amount — for example, to clear an existing mortgage, fund home improvements, or provide a financial boost in retirement.

• You receive the money in one payment.

• Interest is charged on the full amount from day one.

• You don’t have access to further funds unless you apply again.

• Voluntary repayments of up to 10% a year can reduce the long-term cost.

2) Lifestyle Flexible Option

This plan gives you an initial lump sum plus access to a reserve that you can draw down in smaller amounts later, when you need them.

• You only pay interest on money you actually release, not funds left in the reserve.

• The reserve provides flexibility for future spending — for example, to cover care costs, help family members, or manage living expenses over time.

• Like the lump sum plan, you can make voluntary repayments of up to 10% a year to limit how much the balance grows.

Both plans include Aviva’s safeguards: no negative equity guarantee, optional inheritance protection, portability if you move home (subject to the new property meeting criteria), and downsizing protection after three years (on plans taken out since April 2019).

 

Aviva Pros and cons 

✅ You keep ownership of your home.

✅ No negative equity guarantee protects your estate.

✅ Inheritance protection option available.

✅ Flexible cash access and voluntary repayments.

✅ Portability (being able to move house) and downsizing protection add flexibility.

❌ Interest compounds – balance grows quickly without repayments.

❌ Usually less inheritance left for your estate.

❌ Cash may affect benefits and tax.

❌ Long-term commitment with possible early repayment charges.

❌ You must pay for independent legal advice.

What do customers say?

Aviva holds a 4.3★ TrustScore on Trustpilot (50,829 reviews, Sept 2025).

It’s important to note that these reviews cover all Aviva products — including car, home, life insurance, pensions, and savings — not just equity release. That said, customer feedback often highlights Aviva’s reputation, clear communication, and professionalism.

Here are a few recent reviews:

“Excellent service and communication. Everything was explained clearly and the process was straightforward. I felt confident at every stage.” — Margaret Brown, Trustpilot, July 2025

“I was impressed with how professional and courteous Aviva were. The adviser took time to answer all my questions and made sure I understood my options.” — David Thompson, Trustpilot, June 2025

“Very smooth and efficient service. I appreciated the regular updates and how simple they made what could have been a stressful process.” — Anne Richards, Trustpilot, May 2025

Aviva's Equity Release Rates: What to Expect (Illustrative only)

Recent examples show Aviva rates at 6.07% MER (May 2025) and 6.51% MER (Aug 2025). The table below illustrates how a £50,000 release at 6.51% MER grows with no repayments (monthly compounding, rounded):

Latest Aviva lifetime mortgage interest rates

Provider	MER	Type	Product	How much cash could you release?
Aviva	6.51%	Fixed	Drawdown	Calculate Now
Aviva	6.51%	Fixed	Lump sum	Calculate Now

Rates correct at 3rd of October, 2025. 6.51% MER deal through Age Partnership when you use our equity release calculator.

Side-by-Side Comparison

Typical customer profiles

Aviva’s equity release customers come from a wide range of backgrounds, but the company highlights some common situations where a lifetime mortgage can help:

• Releasing money for essential home improvements or care costs — like Susan in Bristol, who unlocked £40,000 to adapt her home after health issues, while keeping £35,000 in reserve for future needs.

• Clearing an existing mortgage in retirement — like David and Lisa in Leeds, who released £100,800 to repay their interest-only mortgage and avoid having to sell their home.

• Topping up retirement income or helping family members — many customers use equity release to provide financial support for loved ones or to boost day-to-day living expenses.

These examples show that equity release can be flexible, but they also underline the importance of advice: what works for one family may not be right for another.

Aviva vs Age Partnership

• Aviva = lender, offering only its own plans.
• Age Partnership = broker, compares plans across multiple lenders (including Aviva).

Side-by-Side Comparison

Final word

Aviva is a strong, established choice with ERC safeguards and options for lump sum or flexible drawdown. If you’re confident Aviva fits your needs, it’s a solid route. If you’d prefer to see how Aviva stacks up against other lenders on price and features on the day, consider speaking with a whole-of-market broker such as Age Partnership to compare personalised quotes side-by-side and find the best option for you.

Next steps

See how equity release providers compare or find out how much equity you could release from your home, using our easy-to-use calculator. It’s free and there’s no obligation to go further.

For free advice on equity release call 0800 368 8466 to speak to a specialist adviser at Age Partnership.

You should always seek professional advice. Before you reach a decision, make sure you completely understand the implications of a lifetime mortgage, consider any potential alternatives, and discuss everything with your family.

Try the calculator

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Notes on sources & accuracy

Core product features, eligibility and safeguards are taken from our 2025 Aviva review page and plan summaries (updated 6 May 2025). Rate snapshots reflect dated listings on our network pages (6 May and 11 Aug 2025). Trustpilot references are accurate at time of publication (Sept 2025) link to the live company pages (ratings/reviews change frequently and Aviva’s page covers multiple services, not equity release specifically).

Who is Aviva?

Aviva has over 31 million customers worldwide and offers a comprehensive product range, including insurance, investment, retirement and healthcare. It is also one of the most established equity release lenders in the UK, having provided over 250,000 people with a lifetime mortgage since 1998.

Most recently, Aviva has won 'Best overall provider for Lifetime Mortgages at the Mortgage Solutions 2023 Equity Release awards. Other awards include ‘Best Equity Release Lender’ and ‘Best Equity Release Lender Customer Service’ at the What Mortgage Awards 2020. ‘Best equity release lender’ at The Personal Finance Awards 2021/22 and been awarded five stars by Moneyfacts for the ‘Lifestyle Flexible Option Lifetime Mortgage and Enhanced Flexible Option Lifetime Mortgage.

A note from our expert, Ashley:

This Aviva lifetime mortgage review is one of a series of equity release reviews, which take a close look at leading providers so you can compare the various plans available and consider which might be most appropriate for you.

Is Aviva a member of the Equity Release Council?

Yes, Aviva is a member of the Equity Release Council, which ensures Aviva lifetime mortgage customers are protected by its rules and principles.

The company is also regulated by the Financial Conduct Authority.

Aviva Equity Release plans

Aviva offers a choice of two lifetime mortgages both of which are Moneyfacts 5-star rated:

1. Aviva Lifestyle Lump Sum Max – lets you release a lump sum cash payment of £15,000 or more, and also choose to borrow more later on, depending on your age and the value of your home
2. Aviva Lifestyle Flexible Option – lets you release an initial lump sum cash payment, with the added benefit of a cash reserve to draw on in the future.

Try the calculator

Eligibility criteria

To be eligible for a lifetime mortgage, Aviva requires you to meet all the following criteria as a minimum:

• The youngest applicant (i.e. you or your partner) is aged at least 55
• The equity release property is your main home and shouldn't be unoccupied for more than six months at a time, and you own it without a mortgage. You may still be eligible if you have a small mortgage, but you will need to pay it off with your lifetime mortgage
• Your home is in the UK and is worth at least £75,000.
• The property is freehold – leasehold may be accepted if there are at least 160 years remaining on the lease
• You want to borrow a minimum of £15,000