Aviva Equity Release

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NelsonBentley's review of Responsible Equity Release - www.responsibleequityrelease.co.uk


“Aviva Equity Release”

Written on: 22/11/2018 by NelsonBentley (1 review written)

My father borrowed £35,000 in 2002. In February 2018 the outstanding loan paid back to Aviva was over £131,000. Aviva will keep your house deeds until every penny is paid back. You will be told that the loan is paid back when you sell your home. Yes very true but a house can take 6 weeks up to years to sell. My father lived alone,blind and diabetic for several years after losing my Mum in 2011. I cared for him every day until he was placed into a nursing home in March 2017. His house was empty and I eventually sold it in December 2017. Unfortunately my father passed away on New Years Eve 2017. Everything was put on hold due to probate. Luckily I did not lose the buyers for my Dad's property. Eventually probate was finalised in in March 2017. Aviva told me in October 2017 that £127,000 is due if paid by the end of Oct. Probate can take a very long time so in the end my solicitor paid over £131,000. Does not matter if you pass away, placed into a nursing home Aviva will charge interest every day until they receive a BACS transfer for the whole loan from your acting solicitor. Please read thoroughly before taking Equity release. It helps at the time but the end results are soul destroying especially to family.

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