Equity release lender More 2 Life has launched a partial repayment calculator for advisers.
It allows advisers to show a client an interactive representation of the impact of making partial or no repayments on the remaining equity in their property over a 15 year period. It will also show what happens if future house prices increase or decrease and highlight the protection offered by no negative equity guarantee through dynamic graphs.
This partial repayment calculator is the first of a range of new tools which will be launched this year by More 2 Life to help advisers explain the benefits and features which are available with the different lifetime mortgage products in its range.
In addition, changes have been made to the More 2 Life website to make it more user friendly with an improved navigation, a new ‘tools to help you’ section, modern lending features explanations and information on how to give the best advice as well as a more streamlined product plans section. The lender has also revamped its CII-accredited webinar programme to offer ‘on demand’ content as well as live events.
Dave Harris, CEO at More 2 Life, said: “Our partial repayment feature available on a number of our ‘Choice’ products is very popular with consumers. However, explaining features of any financial product can be challenging. With this new partial repayment calculator available to advisers, they will be able to highlight the value of this product feature utilising a dynamic graph which automatically updates as the input fields change.
“This is the first of a number of tools we will be launching this year to help advisers as we continue to grow and develop new innovative ways to support advisers. We continue to strive to be the sector innovator in technological advances to help both advisers and clients.”