Going direct to Aviva for your equity release scheme, rather than through an independent company such as Equity Release Supermarket, will actually cost you more in the long run through the interest rate you receive.
The Cost of Interest Rates
Interest rates always look so small when they are just a simple number. The difference of a couple of decimal points hardly seems like a significant change to the amount you will be paying. But over time that tiny amount can cost you thousands of pounds.
When applying for one of Aviva’s equity release schemes, sometimes the difference between buying directly from Aviva or through Equity Release Supermarket can be as much as 0.5%. Now that doesn’t seem like that much when you look at it, but how much is that over time?
That small difference in the rate of interest could end up costing you, the customer, £1000’s over the years of your deal. With the amount of cash you can potentially release from your property, 0.5% builds to a significant amount.
Thinking of your beneficiaries
While equity release is a simple, effective method of freeing up the value your property has built up over the years, in the end not picking the best deal is going to affect your nearest and dearest.
By going direct to Aviva for your equity release deal, you are going to end up paying over the odds in the long run. The costs they incur through maintaining their own direct sales team are going to be passed on to you. And in the end that means they will be passed along onto your beneficiaries. You don’t want to think that, when the time comes, your loved ones are going to lose out because you were unable to get the best deal.
By going through ERSupermarket you are getting specialist, independent advice from experts who have worked in the industry for years. And by accepting the business through them, Aviva has fewer costs and can offer lower rates. And lower rates means loved ones benefit in the long run.
This is why most equity release firms have already shut down their direct sales service. Over the last ten years the amount of new business coming in through independent firms as gone up from 20% to 80%. As of 1st July Aviva will be the last firm to do so, as they recognise that they can provide a better deal to their customers. Now the way is clear for you to get the best deals and the best rates through BestEquityRelease.com.