What is the Minimum Age for Aviva's Lifetime Mortgages
Age 55 on all their products
Age 60 on all their products
Age 55 on their Lump Sum Product but Age 60 on their Flexible Option
Age 60 on their Lump Sum Product but age 55 on their Flexible Option
What is the Cash Back that Aviva Provides
Aviva products offers no Cash Back
£1000 or £1500 Cash Back
£500 or £1000 Cash Back
Cash Back is 1% of original advance capped at £3250
How do Aviva Calculate their ERC's?
Charge linked to lenth of time their plans have been in force. For years 1-5 5% of original loan and for years 6-10 3% of original loan
Charge linked to swap rates if linked rate the same or higher than original rate of mortgage ERC applies
Charge linked to 15 yr gilt yields if the same or higher ERC does not apply. Maximum of 20% of total advance.
Charge linked to 15 yr gilt yields if the same or higher ERC does not apply. Maximum of 25% of total advance.
What is the maximum age for Aviva Lifetime Mortgages
Age 85
Age 90
Age 95
There is no maximum age
On what basis do Aviva provide Free Valuation of a property?
Aviva does not offer a free valuation
Aviva provide a free valuation for properties up to £500,000 in value
Aviva provide a free valuation for properties up to £1,000,000 in value
Aviva provide a free valuation for all properties with no limit on the property value
What are the minimum drawdown amounts for Aviva'a Products
£5000 on lump sum max and Flexible Option
Nil on lump sum max and £5000 on Flexible Option
Nil on lump sum max and £2000 on Flexible Option
Nil on lump sum max and £1000 on Flexible Option
How do Aviva provide Inheritance Protection on their Products?
Aviva provide Inheritance Protection on Lump Sum Max and Flexible Option Automatically
Aviva provide Inheritance Protection at no extra cost on the Flexible option and with an increased interest rate on their Lump Sum Max product
Aviva provide Inheritance Protection at no extra cost on their Lump Sum Max product and with an increased interest rate on their Flexible Option.
What is the arrangement fee on Aviva's Lifetime Mortgages
£495 on both plans
£555 on both plans
£495 on the Lump sum max plan but £555 on the Flexible Option
£555 on the Lump sum max plan but £495 on the Flexible Option
Do Aviva provide Lifetime Mortgages on second properties
Aviva don't do Lifetime Mortgages on second properties
Aviva do Lifetime mortgages on second properties on the Max Lump Sum plan
Aviva do Lifetime mortgages on second properties on the Flexible Option plan
Aviva do Lifetime mortages for second properties on all their plans
What is the maximum release from Aviva's products
£500,000 on Lump Sum Max and Flexible Option
£600,000 on Lump Sum Max and Flexible Option
£500,000 on Lump Sum Max and £600,000 Flexible Option
£600,000 on Lump Sum Max and £500,000 Flexible Option
On what basis do Aviva accept payments on their Lifetime Mortgage Plans
They do not accept any payments
They accept payments on their Flexible Option but limited to 5% of the original advance
They accept payments on both their plans without any restrictions
They only accept payments on the Flexible Option Plan without any restrictions
What Aviva Plans can be put into Trust
Lump Sum Max and Flexible Option Plan can both be put into trust
Lump Sum Max cannot be put into trust but Flexible Option plan can be put into trust with an increased interest rate
Neither plan can be put into trust
What documents Will Aviva require to accept a Lasting Power of Attorney (LPA)
Evidence of LPA Only
Evidence of LPA and GP report to ensure mental capacity is lost
Evidence of GP report only to ensure mental capacity is lost
How long does the Estate of the late plan holder have to sell the property upon death
3 months
6 months
12 months
Do Aviva Fix their Interest Rate?
No rate cannot be fixed
Yes it is fixed for 14 weeks from receipt of the signed offer document
Yes it is fixed for 14 weeks from receipt of the application form
