Unlocking more equity with our Lifestyle Max lifetime mortgage

Reintroducing our Lifestyle Max lifetime mortgage. With up to 10.5% higher LTV than our existing Lifestyle Flexible Option lifetime mortgage and a 4-year ERC term, Lifestyle Max gives your clients a way to release higher proportions of equity from their home.

Our products at a glance

 

Lifestyle Flexible

Option

Lifestyle Max

 

Eligibility

 

Age

Minimum age 55
No maximum age

Minimum age 55
No maximum age

Property Value  Minimum £75,000
Maximum - upon referal over £5million

Minimum £75,000
Maximum - £1 million

Lending Criteria  Prevailing lending criteria Prevailing lending criteria
Minimum Loan £15,000 lump sum or £10,000 lump sum with a £5,000 cash reserve £15,000 lump sum
Maximum Loan No max £480,000
Product Features  
NNEG Yes Yes
Inheritance Guarantee Yes Yes
Downsizing Protection Yes Yes
VPRs Yes - minimum £50 and maximum is 10% of all loans per policy year Yes - minimum £50 and maximum is 10% of all loans per policy year
Early Repayment Charges  
ERC Model Gilt or Fixed % Fixed %
Fixed % ERC Term 10 years 
4 years
Fixed % ERC Shape

Year 1:   9%
Year 2:   9%
Year 3:   8%
Year 4:   7%
Year 5:   6%
Year 6:   5%
Year 7:   4%
Year 8:   3%
Year 9:   2%
Year 10: 1%

Year 11 onwards 0%

Year 1:   8%
Year 2:   7%
Year 3:   6%
Year 4:   5%

Year 5 onwards 0%

Further Borrowing  
Additional Borrowing  Yes - minimum £5,000
Although Additional Borrowing is not guaranteed
Yes - minimum £5,000
Although Additional Borrowing is not guaranteed
Cash Reserve Facility Yes No
Pricing  
Enchanced Terms Yes No
LTV Range 21% - 41% 20% - 48%

Support Documentation  

To help you understand the Lifestyle Max product, we have created a few helpful documents you can find in our document library

  • Target Market Statement giving clarity on who the Lifestyle Max is designed for
  • Value for money assessment 
  • Terms and conditions (Edition 11)

You can find the Target Market Statement for the Lifestyle Flexible Option here. You can also find answers to your frequently asked questions here.

Further Support

Our teams are here to help you find the right product for your clients. You can find out who your dedicated Business Development Manager here, or email erbusinesssupport@aviva.com

Our lifetime mortgage is a long-term loan secured on your clients home. Inheritance will be reduced and tax position and welfare benefits may be affected.