Where to Turn to When Aviva Closes its Direct Equity Release Operation
The first thing is not to panic. If you have identified the Aviva deal that is best for you, the closing down of Aviva’s direct sales team does not mean that you have lost your opportunity. Aviva will still be offering their equity release schemes as a lender. The simple fact is that the costs of running their sales teams have brought them to the realisation that the market has changed. It’s no longer good business to hold onto their own dedicated advisory and sales team.
The market has changed
In the last ten years the equity release market has changed. As more independent firms have arisen, such as Equity Release Supermarket, more and more lenders have come to the realisation that it is cheaper to accept their business though them. The overheads of maintaining direct sales teams have meant higher costs passed on to the consumer.
Aviva, one of the biggest names in the equity release market, has been the final company to hold onto their direct sales team. But finally they have taken the decision that maintaining their 38 person strong team is no longer cost effective in the current equity release market. More and more they found they could offer better deals on their schemes when they accepted business through an independent broker. And as more and more customers realised this, it has become obvious that the market model has changed.
Get the best deals through independent comparison
The potential savings from this decision will be passed onto the intermediary sector with ever lower interest rates and better deals. Turn to them! Equity Release is still an excellent option in retirement to unlock some of the equity in your property. And now the market is in as good a place as ever to help you make that choice. Interest rates have never been so low and so you have never had such a chance to make the most out of your hidden equity. By fixing your rate at today’s levels, this means that you can guarantee greater financial inheritance for your children and loved ones in the long run.
With standard regulation of the market established and governed by the FCA, and all companies overseen by the Equity Release Council, equity release schemes have never been such a good option. You do not have to worry about unscrupulous firms taking advantage of you. Turning to independent advisors is a safe and secure way to unlock the equity in your property.