"Advisers and customers told us that in a small proportion of more complex cases, such as those involving divorce or lease extensions, they needed more time to complete the application."
The valuation report expiry date will also be realigned so that it matches the original offer and re-offer period, effectively valid for 28 weeks.
Greg Neilson, MD of Aviva Equity Release, commented: “Advisers and customers told us that in a small proportion of more complex cases, such as those involving divorce or lease extensions, they needed more time to complete the application. We’ve therefore extended our re-offer period to 14 weeks, the longest in the market, so that we can best meet the needs of advisers and their customers.
“We’re confident that this will make our process simpler for advisers and customers who require more time and we are committed to listening to feedback from advisers about our products and processes and to making improvements where possible.”
