Legal & General Mortgage Club has appointed Aviva to its lender panel, giving its members access to two of the financial services firm’s equity release products.

The first loan is Aviva’s Lifestyle Flexible Option, which allows borrowers to release at least £10,000 from the value of their home as a lump sum, with a tailored cash reserve of £5,000 or more that can be arranged as a flexible drawdown. The reserved money will not accrue interest until the borrower withdraws it.

The second loan is the lender’s Lifestyle Lump Sum Max plan, which allows customers to release a tax-free lump sum of £15,000 or more.

Both products offer voluntary partial repayments, downsizing protection, a 14-week interest rate guarantee, and access to clients through an online adviser portal.

Customers aged 55 and over may apply, with no upper age limit.

Aviva also runs a personalised pricing approach, with improved rates to customers with certain health and lifestyle factors.

Legal & General Mortgage Club head of lender relationships Danny Belton “Today’s announcement is testament to our commitment to delivering a market-leading proposition that allows advisers to find a suitable product for their client, no matter their need.

“We’ve worked closely with Aviva to bring on board its equity release products and expect the competitive rates and flexible product features to help many customers looking to unlock their built-up housing equity.”

Aviva managing director equity release Stuart Robinson adds: “Legal & General Mortgage Club boasts one of the UK’s largest adviser networks. “By working together, we expect to help many more people find and access Aviva’s lifetime mortgages.

“Aviva’s award-winning lifetime mortgages provide advisers with compelling options to meet their later life client needs.”