TMA Club has announced the addition of equity release lender, More 2 Life, to its equity release panel.
Members of the Club will have immediate access to the lender’s range of lifetime mortgages, including its recently launched Tailored Plus product. This was an update of More 2 Life’s original Tailored Choice product, now offering borrowers drawdown facilities from £2,000 with the option to make flexible partial repayments.
Additional product features include:
- Fixed early repayment charges (ERCs)
- A range of LTVs, with the maximum sitting at 56%
- Loans available from £10,000 to £1.85m with cashback options
- A mixture of drawdown and lump sum facilities
- Downsizing and inheritance protection
- Access to More 2 Life’s suite of online tools including its portal, which provides advisers with a paperless application process from start to completion
- Simple underwriting process
TMA welcomed OneFamily and LV= to its equity release panel earlier this year.
Lisa Martin, development director at TMA, said: “As more of our members step into the equity release space, we are committed to providing them with access to the best lending solutions for their customers – which is exactly why we’ve decided to launch with More 2 Life.
“With the flexibility and choice that comes with More 2 Life’s range of products, more of our advisers can begin to reap the benefits that later life lending brings for them and their clients, allowing their business to prosper further.
“This is just one of many exciting changes that we are making to our equity release panel over the course of 2019, so keep your eyes peeled for more enhancements over the coming months.”
Dave Harris (pictured), CEO at More 2 Life, added: “Nearly two-thirds of all property wealth is currently held by the over-55s – a generation who has bigger aspirations for their retirements than their parents but often less financial resources.
“This makes it more important than ever to work with organisations such as TMA to help advisers support the growing number of older homeowners who want to use equity release to its full potential to meet these needs.
“We look forward to working closely with TMA by providing its growing adviser community with a suite of later life lending solutions and supporting them in their conversations with older borrowers.”