More2life has announced that customers now can access higher LTVs across all age bands of up to 48% on its Flexi Choice range of equity release products.
The later life lender has also claimed that its Flexi Choice range will offer some of the lowest rates on the market.
The new higher LTV options are designed to help advisers secure better and more affordable long-term outcomes for borrowers.
The plan is offered in two variants, Flexi Choice (properties up to £2 million) and Flexi-Choice Premier (properties over £2 million). These offer customers a range of benefits including:
- A free Energy Performance Certificate (EPC) on completion to help customers better understand how to improve their energy efficiency
- Loans from £10,000 to up to £960,000 in England and £480,000 in Scotland and Wales
- Fixed early repayment charges (ERCs) as well as a three-year Compassionate Clause
- The ability to make ad-hoc repayments of up to 10% of the total cash advanced in each 12-month period
Ben Waugh (pictured), managing director of more2life, said: “As the later life lending sector evolves, we are continually expanding our support for advisers by making our market-leading range of low-rate products more readily available to those who need them most, no matter their stage in life or entry point into the later life mortgage journey.
“Not only are the rates once again among the lowest in the market for this product type, but Flexi Choice also travels with our ‘Core 4’ features: fixed ERCs, partial repayments from day one, downsizing protection and ERC exemption for three years following death or entry into long-term care alongside a free Energy Performance Certificate, making it a compelling choice for suitable customers.
“As the industry continues to set new benchmarks for affordability-centred customer service, we look forward to working closely with a wide range of advisers to support their clients’ growing needs.”