ER single product - FAQs
Why are you removing the Lifestyle Lump Sum Max product?
- We are moving to one single product to bring further simplicity to our Lifetime Mortgage proposition. Our Lifestyle Flexible Option (LFO) provides all your equity release business needs in one convenient package
- We'll still deliver the same flexible options and offer everything that the Lifestyle Lump Sum Max (LLSM) did, including the cash sum only option, the same LTVs and enhanced medical LTVs.
Will the Lifestyle Flexible Option product still offer everything that the Lump Sum Max product offered?
- Yes, as part of the change we are amending our Terms & Conditions to remove reference to Lifestyle Lump Sum Max for any Lifestyle Flexible Option offers issued from 27 April.
- Customers can continue to apply for further advance/additional borrowing under their existing product.
- Any pipeline applications can continue through to completion on existing terms, we will provide a 2 week period to receive Lifestyle Lump Sum Max applications. The changes take effect from 27 April and all applications need to be received by 11 May, any applications received in this period will continue to be offered as a Lifestyle Lump Sum Max
- All Lifestyle Lump Sum Max reoffers will be offered on a Lifestyle Flexible Option basis. We will inform you of any reoffers that we have changed to Lifestyle Flexible Option, due to Lifestyle Lump Sum Max being withdrawn.
- You will still be able to view all existing products on the adviser site and customers will still be able to view their policy on My Aviva.
When will this change be made and what documents will be available?
- The change is effective from 27 April 2022, the adviser site has been updated to display the updated documents. Please ensure you use the new material from this date and delete any expired material.