Leading later life lender, more2life, has reintroduced its Prime Choice product range, following a six month hiatus due to the market challenges after the Government’s mini-Budget in September 2022.
This joins their Flexi, Tailored, Maxi and Capital Choice ranges which are designed to meet a range of different customer needs.
The Prime Choice lump sum product range has been refreshed, with updated loan-to-values (LTVs) and interest rates.
The revised LTVs range is one of the highest on the market from 17.80% on the younger end up to 48.10% for those aged 84.
Interest rates start from 6.6% and the loan value ranges from £10,000 – £600,000 (£1,000,000 in London and the South East).
The return of the Prime Choice range further amplifies more2life’s product offering giving advisers more options to discuss with their clients and to deliver better customer outcomes.
Les Pick (pictured), director of sales at more2life, said: “The return of Prime Choice to the market highlights the further confidence in the sector following the challenges of the September mini-Budget.
“With Consumer Duty approaching, the return of innovative products such as Prime Choice which are designed to better serve older borrowers will – I am sure – be welcomed with open arms.”
He continued: “While Consumer Duty will no doubt spur on lenders to consider their product offerings, customer demand for more flexibility and a wider range of options is driving innovation at the moment.
“With more customers looking for support and expecting terms that mirror those in the wider mortgage market, there is a real opportunity to build strong foundations on which to grow this sector.”
