Aviva Equity Release

Stephen-k

You are very patronising and deliberately misunderstood what I wrote so I can only assume you are a troll.
And we must never feed Trolls what they like.

Along came a Troll with lots of thanks
probably all for his egotistical pranks
sadly there isn't a "No Thanks" tally
being top of that pile for him would not be uncanny

robsmg

Hi Stephen,
Having studied the top up unit for Equity Release, sourcrates has probably given you the best answer you could hope for, informative and most importantly accurate.

It may have been that he took out a life insurance policy when he took out the equity release to try and cover some of the money taken out through ER however if he didn't and the family can't afford to pay off Aviva and the associated interest, then the house will need to be sold to pay off the debt.

Brightside, the ER taken out is a debt levelled against the estate which means that it may now take his estate below the nil rate band for inheritance tax of £325k. Without knowing more about the contract and his situation, it is very difficult to provide further information.

All (reputable) ER providers have to be members of ER Council, of which Aviva is a member, this means that they have a code of conduct to follow which means that customers are not treated unfairly.

The horror stories you will have heard will be from the dark old days of ER and the industry has since cleaned up it's act.

Stephen-k

Thanks to all with constructive replies I will close this thread now. Have a prosperous New Year.

dresdendave

Stephen-k wrote: »

Thanks to all with constructive replies I will close this thread now. Have a prosperous New Year.

AFAIK this thread will remain open for the foreseeable future. Perhaps Board Moderators can close threads, but I'm sure individual posters don't have the authority to do so.

thomas_kennedy

dresdendave wrote: »

AFAIK this thread will remain open for the foreseeable future. Perhaps Board Moderators can close threads, but I'm sure individual posters don't have the authority to do so.

Can anybody say if a cooling off period is required for Lifetime Motgage Lenders