Why Independent Equity Release Brokers Now Get the Best Aviva Equity Release Deals

The equity release market has changed over the last ten years. While in the early days of equity release schemes direct sales were the norm, the realities of the market have now led to a swap in how customers can find the very best deals.

Direct sales have been replaced by independents
In the past direct equity release teams such Aviva Direct accounted for over 80% of all business. These were the people who worked for the lenders and so could give you the advice you needed. They advised you, and then they sold you their products.

Today things are different. Now, 80% of equity release deals are coming in through independent firms and brokerages such as Equity Release Supermarket. These independent firms have been founded by experts who gained their experience from working for the lenders directly, such as Aviva, LV= and Prudential, who all saw a new way to provide a better value service for their customers.

By forming independent advisory companies, they are able to provide business to companies such as Aviva. The lenders, in turn, were forced into more direct competition, driving down the rates that they offered.

The same products at lower rates
This is why independent companies such as ERSupermarket have grown from a 20% share in the market to 80% in the last decade. And you can still get the same deals.

On 1st July 2013 Aviva, the biggest brand name in the equity release industry, will close their direct offering service. Their services are still available, but now the only way to get their deals will be through independent advisors. Through companies such as ERSupermarket you can still get Aviva’s Lifetime Mortgage Plan with all the same extras and services. It’s just at a cheaper rate than you could have received directly!

Aviva was the last big company to still provide the direct service, but now they have realised that they can offer their best value service to their customers through independent companies such as ERSupermarket.

Saving through independent services
The equity release sales model has changed like this because companies have realised they can give a much better deal through independent brokerages. When they work in partnership with ERSupermarket they avoid having to pay the costs incurred through having their own sales teams. Costs that would inevitably be passed on to the customer.