Equity Release The Equity Release Council is an organisation of equity release providers, advisers and other interested parties who work to a code of practice to which
COMPANY Aviva Aviva
advisers.co.uk or 0845 300 2837
www.aviva-for- Aviva www.aviva-for- Aviva
advisers.co.uk or 0845 300 2837
Bridgewater Equity Release Ltd
0845 140 5060 Release Ltd
Release Ltd 0845 140 5060
Hodge Lifetime 0800 731 4076
Hodge Lifetime 0800 731 4076
Hodge Lifetime 0800 731 4076
Just Retirement 0845 302 2287
Just Retirement 0845 302 2287
Just Retirement 0845 302 2287
0800 028 8974 LV=
LV= 0800 028 8974 More 2 Life Ltd
www.more2life.co.uk 0845 415 0150
www.more2life.co.uk 0845 415 0150
More 2 Life Ltd
www.more2life.co.uk 0845 415 0150
More 2 Life Ltd
Newlife - Home Related Finance 0121 712 3800
0845 140 5060 Bridgewater Equity
advisers.co.uk or 0845 300 2837
www.aviva-for-
advisers.co.uk or 0845 300 2837
www.aviva-for- Plan name (type of plan) Equity Rate Rate
Lifestyle Lump Sum Yes Max (capital release)
(capital release)
† Only available to clients with health or lifestyle factors which affect life expectancy Lifestyle Flexible Option Yes
Lump Sum Max (capital release)
5.74%F Option(capital release) (reversion) 5.69%F N/A
IPG available with increased rate of 6.36% annually. Enhanced Lifestyle FlexibleYes
Yes 6.79%F 6.74%F
Release (Fixed/ Compounds Rate Age Joint Property or Cash Sum to Value Council Variable)
Annually 6.79%F M 5555/55 F 55
† Min/Max LTV: LTV increased by 1% for single life applications Enhanced Lifestyle
Annually 6.74%F M 5555/55 F 55
Annually 5.74%F M 5555/55 F 55
Annually 5.69%F M 5555/55 F 55
† Only available to clients with health or lifestyle factors which affect life expectancy Flexible Release Plan Yes
N/A
Bridgewater Equity Maximum Release Plan Yes (reversion)
Secured Escalating Release Plan (reversion)
Yes N/A N/A
† Flexible repayment option available from first anniversary of plan onwards. Lump Sum Lifetime
6.21%F †
† Flexible repayment option available from first anniversary of plan onwards for initial lump sum and further withdrawals. Maximum two instalments per year Fixed Rate Retirement Yes
Mortgage (Interest only mortgage) † Mortgage (mortgage)
6.17%F †
For 5 yrs 4.39%F
Monthly 6.35%F M 6060/60 F 60
Monthly 4.48%F M 5555/55 F 55
† Interest only mortgage requires monthly payment covering interest charged. Roll-Up Lifetime Mortgage Yes
£100,000 Min: 20% or £20,000 Max: 45% or £500,000
£100,000 Min cash sum: £20,000 Min LTV: 40%
Max cash sum: £500,000 Max LTV: 50%
5.99%F Annually 5.99%F M 60 60/60 £70,000 Min cash sum: £10,000 (Min cash Yes N F 60
† Maximum cash sum: Max initial loan of £600K available in England only. For properties located outside of England maximum total cash facility remains at £2 Lump Sum Plus Lifetime Yes
facility £15K) Max cash sum: £600,000 † Max LTV: 45%
Mortgage (mortgage)
Lifetime Mortgage (mortgage)
5.99%F Annually 5.99%F M 60 60/60 £70,000 Min cash sum: £10,000 (Min cash Yes N F 60
† Maximum cash sum: Max initial loan of £600K available in England only. For properties located outside of England maximum total cash facility remains at £2 Lump Sum Plus Enhanced Yes
Max cash sum: £600,000 † Max LTV: 52%
facility £15K)
6.39%F Annually 6.39%F M 60 60/60 £70,000 Min cash sum: £10,000 (Min cash Yes N F 60
Mortgage (mortgage)
(mortgage) † Fixed Rate/Annualised Fixed Rate dependent on age: 60-80 6.24%, 81-85 6.34%, 86+ 6.44%.
Mortgage 6.26%F† Protected (mortgage) Yes
† Maximum cash sum: Max initial loan of £600K available in England only. For properties located outside of England maximum total cash facility remains at £2 Lump Sum Lifetime
Max cash sum: £600,000 † Max LTV: 52% †
facility £15K) Yes Yes
† Fixed Rate/Annualised Fixed Rate dependent on age: 60-80 5.99%, 81-85 6.09%, 86+ 6.19%. Flexible Lifetime
6.02%F†
5.83%F- Annually 5.99%F- M 60 60/60 £70,000 Min cash sum: £10,000 6.19%F† F 60
6.07%F- Annually 6.24%F- M 60 60/60 £70,000 6.44%F† F 60
5.55%F Monthly 6.17%F M 70 70/70 £60,000 F 70
† Min/max LTV: 6 months after initial lump sum. LTV dependent on age, varying from age 70 to 90+. Enhanced (mortgage) Yes
† Min/max LTV: 6 months after initial lump sum. LTV dependent on age, varying from age 55 to 90+. Interest Choice
(mortgage) †F 60 Yes
Flexible Lifetime Mortgage
F 60
6.25%F Monthly 6.43%F M 65 65/65 £60,000 F 65
5.60%F Monthly 5.75%F M 60 60/60 £70,000
Max: 50% (Max as per LTV scale) Min: 20% (Min initial loan £10K)
Min: 20% Max: 50% (Max as per LTV scale)
Max cash sum: £500,000 Max LTV: 50% †
Max cash sum: £500,000 Max LTV: 50% †
Min: 20% or £10,000 Max: 45% or £450,000
† Client can service all or part of the debt (1% - 100% of interest, min £25 per month) for any period up to the life of the loan. Yes 4.94%F - Monthly 5.05%F - M 60 60/60 £100,000 Min: 16% (min advance £10K)
† Early Repayment charge: There are a number of circumstances where ERCs are not payable IPG = Inheritance Protection Guarantee Max: 42% subject to max £750K
Min 30% † £15,000 (Min cash facility £5K)
Min 17.6% † £15,000 (Min cash facility £5K)
Yes N Yes N Yes N Yes N Yes N Yes N Yes N/A N/A £75,000 £75,000 Min: £15,000 Min: £15,000 £75,000 † Min: £15,000 £75,000 † Min: £15,000
Annualised Min Min Min Min/Max Loan to Value Age Value
Max: 51% at age 85+ or £600,000 † Max: 55% at age 85+ or £600,000 † Max: 45% at age 84+ or £600,000 Max: 45% at age 84+ or £600,000 †
Min further release: lesser of 10% or £10K. Maximum release £250K
cap on the release amount
Lump I Sum
Yes N Yes N Yes N Yes N
N/A M 65 65/65 £120,000 Min: lesser of 25% reversion or £25K. Yes F 65
N/A M 65 65/65 £120,000 100% reversion only with a £250K Yes N F 65
N/A M 65 65/65 £120,000 Minimum initial lump sum - lesser of Yes Y F 65
† Income: Plan provides a series of escalating capital payments over a term selected by the client. Maximum £250K agreed at outset Flexible Lifetime Mortgage Yes
Monthly 6.39%F M 6060/60 F 60
£100,000 Min: 20% or £15,000 Max: 45% or £500,000
payment lesser of 5% or £5K, minimum further release lesser of 10% or £10K.
25% reversion or £25K. Minimum annual Yes N Yes N Yes N
60
March 2015
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