Switching Equity release providers

murray_mint

Hello guys,

Is there any way to switch equity release providers? My mothers with Aviva and has a rate of 8.25% so I would like to renegotiate or take out a replacement mortgage.

Thanks fir any advice.

Jimbo1976

You can "remortgage" to a new equity release provider but your mother may have to pay an early repayment charge.

You/she should check the original documentation to see how much this is. it may be that the cost of the ERC makes remortgaging financially unviable.