Users of the Iress equity release platform The Exchange will now be able to see real-time rates for Aviva’s equity release products.

Advisers are able to key in customer and loan criteria to product a personal quote summary document.

The function is available now and is free of charge for those who already use The Exchange.

Just today, Moneyfacts revealed that the average equity release rate across fixed and variable products is at 3.95 per cent – a record low.

On this development, Iress executive general manager Dave Miller says: “Integrating Aviva’s real-time rates into Iress’ equity release platform means that advisers can – for the first time – get exact rates for all options offered by Aviva and compare them in real time with other providers.

“It means that advisers are able to offer their clients products from an even wider section of the market and this is especially important in current market conditions. We’re proud of the close way Iress and Aviva have worked together to deliver personalised real time rates and this is completely integrated into The Exchange’s equity release platform.”

Aviva managing director of equity release Greg Neilson adds:“ With this new arrangement and 24/7 access, advisers will be able to easily obtain bespoke rates, taking into account their clients’ individual needs, including medical enhancements, whether a specific initial loan and reserve facility is required or the maximum loan available, and using the client’s age next birthday to generate rates where applicable.

“We look forward to working closely with Iress in the future to ensure we continue to deliver services which support advisers in their client relationships.”