Aviva Equity Release Review (2025)

Thinking about releasing money from your home in later life is never a small decision. Releasing equity is a huge decision and commitment. It can help with everything from clearing a mortgage to boosting retirement income, or helping your children step onto the property ladder - but it also has long-term implications. 

Aviva is one of the UK’s best-known providers of lifetime mortgages, with more than 300,000 customers since 1998. In this review, we explore what Aviva offers in 2025, how its plans work in practice, and what real customers say about their experience. We also look briefly at how Aviva compares with broker-led options such as Age Partnership to give you the broadest possible range of options to help you make the right decision based on your individual needs and circumstances.

By Clare Townhill • Updated 22 September 2025
Disclaimer: Prices and ratings correct at time of writing.

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 ring-fence 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: The youngest borrower must be 55 or over. Property must be a UK main residence (excluding the Isle of Man and the 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 (In Plain English)

A lifetime mortgage is the most common form of equity release. It allows you to unlock tax-free cash from your home while continuing to live there. With Aviva, you stay the legal owner of your home and must keep it in good repair, insured, and as your main residence.

Instead of making monthly repayments, the loan (plus any interest) is repaid when the last borrower dies or moves into long-term care. If you want more control, you can make voluntary repayments of up to 10% each year, which helps reduce how much the debt grows.

Aviva offers two ways to take the money:

• A One-off Lump Sum – a single release of cash that you can spend straight away.
   
• The Lifestyle Flexible Option – a smaller initial lump sum plus access to a reserve of funds that you can draw on later if you need them. Interest is only charged on the money you actually release, not the funds kept in reserve.

Because interest is calculated daily and added annually, the amount you owe can increase significantly over time if no repayments are made. This is why equity release reduces the value of your estate and the inheritance you leave behind. 

Aviva Plans In Detail

Aviva offers two types of lifetime mortgage plans, 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).

Rates: What to Expect

Aviva’s interest rates are personalised. They depend on your age, the value of your home, how much you want to borrow, and any optional features you choose (such as inheritance protection).

• How interest works: Interest is calculated daily and added annually to your balance. If you don’t make repayments, the amount you owe will grow over time.
   
• Repayment flexibility: You can make voluntary repayments of up to 10% of the amount borrowed each year (minimum £50 per instalment). These reduce the long-term cost of borrowing.
   

Changing rates: Rates are reviewed regularly and can change frequently, so the only way to know what you’ll pay is to request a personalised quote from Aviva or a broker.

Case Studies (Aviva, Sept 2025)

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.

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What Do Customers Say?

Aviva’s Trustpilot page covers all services (not just equity release) with an overall score of 4.3★ from +50K reviews. Comments range from praise for clarity to criticism of delays in some services.

Aviva (Lender) vs Age Partnership (Broker)

Aviva is a direct lender, so if you go to them, you’ll only see their own lifetime mortgage plans. By contrast, Age Partnership is a broker, meaning they can compare equity release options across multiple leading lenders — including Aviva — to help customers find the plan that best suits their needs.

💡Age Partnership does not lend money itself — it acts as a broker. If you go directly to Aviva, you’ll only see Aviva’s products. If you go through Age Partnership, you’ll see Aviva alongside other lenders, which may or may not be better for your circumstances.

Customer Reviews: Aviva vs Age Partnership

Both Aviva and Age Partnership have strong customer satisfaction ratings, but the context is different:

• Aviva holds a 4.3★ TrustScore (50,829 reviews, Sept 2025) on Trustpilot. However, these reviews cover Aviva’s full range of products — from car and home insurance to pensions and savings — not equity release specifically.
   
• Age Partnership has a higher 4.6★ TrustScore (around 9,000 reviews, Sept 2025). As a specialist broker, these reviews are more focused on equity release and related retirement planning services.

In short, Aviva benefits from its reputation as a household name, while Age Partnership’s reviews give a more direct reflection of customer experience with equity release advice and products.

Final Word

Aviva is one of the UK’s most established equity release providers. Its lifetime mortgage plans combine the reassurance of a trusted household name with useful safeguards, such as the no-negative-equity guarantee, optional inheritance protection, and downsizing protection after three years. Customers can choose a straightforward one-off lump sum or the Lifestyle Flexible Option, which offers additional flexibility through a reserve facility.

The main drawbacks are the same as with any equity release product: compounding interest can quickly increase the amount owed, inheritance is reduced, and eligibility thresholds (minimum loan £15,000, minimum property value £75,000) may also exclude some homeowners. Customer reviews for Aviva are strong overall but reflect the full breadth of its financial services, not equity release specifically.

For those who want to deal directly with a long-established brand, Aviva offers a reliable and regulated option backed by decades of experience. But if you’d prefer a whole-of-market view, working with a broker such as Age Partnership can help you compare Aviva alongside other leading lenders to ensure you find the plan best suited to your needs.

Notes On Sources & Accuracy

All information in this review has been fact-checked against official Aviva documents, including the Aviva Guide to Equity Release (Sept 2025), Aviva FAQs Equity Release, and Aviva Equity Release – Process and Advice. Customer review data has been taken from Trustpilot (Sept 2025).

Rates are illustrative only — Aviva’s interest rates are personalised and change frequently depending on your age, property value, loan size, and options chosen. For an accurate quote, you should speak directly with Aviva or a regulated equity release adviser.