More2life has increased the maximum loan-to-value (LTV) on its Flexi Choice equity release products to 48%, effective today. This enhancement applies across all age bands and positions the Flexi Choice range among the lowest rates available on the market.
Ben Waugh, managing director at more2life, explained the move: “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.”
The Flexi Choice plans, which include versions for properties valued up to £2m and those over £2m, come with several benefits aimed at improving affordability and sustainability for borrowers. These include a free Energy Performance Certificate on completion, fixed early repayment charges, a three-year Compassionate Clause, and the option for borrowers to make ad-hoc repayments of up to 10% annually.
Waugh added: “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.”
