How to track new equity release business cases
Our system supports advisers by tracking quotes and new business applications. You have 24/7 access: anytime, anywhere.
Where do I start?
In the Aviva Adviser website here.
Follow these steps:
- Log in with your Online Account Number and password
- Go to the Equity Release tab and click 'View equity release quotes and applications' button underneath Equity Release Tracking
You’ll see a dashboard with all of your clients’ cases, including quotes and applications. You can use the ‘sort’ filters on each column. These will list cases in alphabetical order, either A to Z (or Z to A). Alternatively, you can filter by Application status which will show all client cases at particular stages. Here it is:
What are the different stages of each quote?
It’s helpful to know how each stage of the process is defined, based on the description in the Stage column. The term ‘illustration’ is used to describe a quote. Here’s your guide:
| What it says | What this stage means |
|---|---|
| Illustration | A quote was requested in the Aviva Adviser website, but an illustration (KFI) has not been downloaded Generating an illustration triggers our 21 day quote guarantee process |
| Illustration Referred | A quote was referred to our Pre-Sales Support team for further investigation We’ll aim to get back to you with a decision within 24 hours. |
| Illustration Issued | A quote was created, and an illustration (KFI) was downloaded either through your preferred portal or directly in our Aviva Adviser website. |
| Illustration Declined | A quote was declined following the referral We will contact you to let you know the reason for the decline decision. |
What are the different stages for initial borrowing applications?
Here's your guide:
| What is says | What this stage means |
|---|---|
| New | A new business initial borrowing application has been started, but not yet submitted. |
| Pre Submitted | A new business initial borrowing application has not been fully submitted yet. If documents to support the application are available, for example a Trust document, they can be uploaded at this point before clicking the submit button - which will move the stage from Pre Submitted to Submitted. |
| Submitted | A new business initial borrowing application was submitted successfully |
| Application recieved | A new business initial borrowing application has been assigned to a customer expert. At this stage if verification of the client's identity is required, a task requesting ID documentation to be uploaded will be sent |
| Decline | A new business initial borrowing application was declined. We’ll contact you to discuss the decline decision. |
| Valuation | A valuation was requested. The Last Updated column shows the date it was requested. For more information on how to track and view valuation reports click here |
| Underwriting Valuation | A valuation report has been received. If no further checks are required as a result, we’ll issue an offer document. This stage will move on to Legals Instructed. For any straight through processing cases, you may not always see this stage. The case will pause here if further underwriting is required. For example, for essential repairs. |
| Legals Instructed | Legal work starts, awaiting completion of all conveyancing work and for confirmation of the completion date, which we will receive from our solicitor, Konexo. |
| Legals Received | When we have a confirmed completion date. The funds are prepared, ready to be released. |
| Funds Released | This shows while we’re waiting for the funds to be released from Aviva on the Completion Date. We will then wait for Konexo to confirm that the funds have been released to your client’s solicitor and then the case moves to Completed. |
| Completed | This is when it’s been confirmed that the funds have been released. You’ll also get an email to confirm funds have been paid to your client. |
| Withdrawn | This shows when either a customer request has been received to withdraw the application, or when a case has not completed within the 28 week offer/reoffer period. |
What next?
From now on you can manage your clients account by logging into our Adviser website and using MyClients tab. You will have 24/7 access to all of the information you need, anytime, anywhere:
| Client policy information in one place, including up to date redemption value. | Voluntary repayments showing the total amount that can be repaid in the current 12-month period and repayments already made. |
| Loan details like amount(s) borrowed, amount owed, the amount of cash reserve left. | Early repayment information including the total cost to repay early. |
| Early repayment charges breakdown, across all loans.
| Client report template: could include loan details, early repayment charges, voluntary repayments. Download to share with your client. |