more2life enhances high LTV product range

more2life has expanded its range of high loan-to-value (LTV) products, which includes its Tailored Enhanced and Maxi Choice offerings.

Heading up the new offering is the Tailor Enhanced range, designed to provide eligible clients with expanded access more2life’s highest available LTVs – up to 54%.

more2life also rolled out the Maxi Choice range, aimed at older borrowers across the market.

The Max Super 1 and Super 2 products have been relaunched, and the maximum age on all Maxi plans has increased from 84 years old to 89 years and 364 days.

In addition, the max loan has increased from £950,000 to £1.5m and the maximum property value is now uncapped. Drawdown plans have also been relaunched.

All Maxi plan rates have also decreased, widening access to the product.

Ben Waugh, managing director, at more2life, said: “As more and more older UK homeowners look to use equity release as a tool to enhance their income and fund financial gifts for younger relatives, it’s important that borrowers can access a wide spectrum of competitive LTV options.

“At more2life, we pride ourselves on providing a wide range of options for customers, and the relaunch of our Tailored Enhanced and Maxi Choice ranges is the latest step in our long-term strategy to set a new benchmark in later life lending offerings.

“Product ranges will continue to evolve, so customers must seek a comprehensive conversation with an expert, who can often provide access to suitable products that are otherwise unavailable on the direct market.”