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Equity Release | Lower Interest Rates than Aviva Direct

Compare Equity Release

Last updated on 27 June 2023

Going direct to Aviva for your equity release scheme, rather than shopping around through an independent website such as CompareEquityRelease.com, will actually cost you more in the long run through the interest rate you receive.

By looking around at what an independent equity release websites such as CompareEquityRelease.com can offer, you are to get a better deal than you can when dealing with Aviva Direct.

Opening up the market

As the equity release market has grown and developed, independent brokers have ensured that competition is keeping the cost to customers down. Whereas if you only speak to the lender themselves they will give you a list of just their own deals, they know if you go through an independent they will show you all the offers on the market. This means that they have the incentive to offer better rates which comparison sites such as CompareEquityRelease.com have identified to encourage more business.

The cost of interest rates

Interest rates always look so small when they are just a number. The difference of a couple of decimal points seems insignificant, but over time that tiny increase can cost you thousands.

When applying for one of Aviva’s market leading equity release schemes, sometimes the difference between the deal you would get buying directly from Aviva and the deal you can get through CompareEquityRelease.com can be as much as 0.25%. Now that doesn’t seem like that much when you look at it, but that small difference could end up costing you, the customer, £1000’s over the years of your deal. With the amount of cash you can release from your property, 0.25% builds to a significant amount.

Flexible Pricing

The best equity release sites, such as CompareEquityRelease.com, have the ability to give you a far more flexible approach to getting you the best deal from Aviva. When Aviva’s direct sales team were encouraged to sell you standard deals that help them cover their own costs, an independent equity release company can access the Aviva Flexible Pricing Tool to make sure that you are always provided with the best deal for you.

Everybody has a different situation. Factors such as your age, health, size and condition of your property and the amount you want to release are all part of the overall picture. And you are an individual. Take a look at the house next door. Is it the same as yours? It might have been on the day they were built, but now that house is more than that. It’s your home. You’ve spent years making it what it is. Your property is as much a part of you as your neighbour’s is a part of them.

Independent equity release sites such as CompareEquityRelease.com recognise that, and know that the best deals can only be achieved by taking this into account. Looking at your personal criteria and using Aviva’s Flex Pricing Tool they can ensure that you always get the best deal for what you need. They can inform you which company offers the lowest deal, highest lump sum, biggest drawdown facility or even offer the most flexible plan in terms of lifetime mortgage early repayment charges.

Getting the rate that suits you

Even though you might want the great deals offered through Aviva, sometimes there are different rates available for different people. CompareEquityRelease.com can make sure that you find the one that best suits you. In order to cover the costs of maintaining their own direct advisory and sales team, Aviva will were forced to offer you higher rates than you could get through an independent advisor. This is why that from 1^st July 2013 Aviva are closing down their direct equity release service. It just isn’t cost effective any longer.

They will now panel out any enquiries made to the Aviva head office if one requires equity release advice. Unfortunately, the deal offered thereafter won’t be as competitive rate as that offered through independent firms such as Compare Equity Release. You will pay a premium.

So if you want to take advantage of the best deals from Aviva, such as the Aviva Flexible Lifetime Mortgage Plan or Aviva Lump Sum Max then visit the CompareEquityRelease.com website and find out how much you can save and how to then proceed with your money saving application.

To obtain a competitive Aviva equity release quote call the team on 0800 678 5169 or contact us here.