"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 laterlife lending offerings."
- Ben Waugh, managing director at more2life
more2life has expanded its range of high LTV products, which includes the Tailored Enhanced and Maxi Choice offerings.
Tailor Enhanced is designed to provide eligible clients with expanded access to some of the highest LTVs available in the market. The product only requires clients to answer thirteen medical and lifestyle questions. Once the questionnaire is processed, eligible clients could gain access to enhanced LTVs up to 54%.
Clients who meet one or more of a set number of conditions will be eligible for the product. These conditions include if the client is an active smoker, has experienced cardiovascular problems, or has a formal diagnosis of angina.
more2life's Maxi Choice range is aimed at older borrowers across the UK market. The Max Super 1 and Super 2 products will be relaunched, and the maximum age on all Maxi plans will increase from 84 years old to 89 years and 364 days.
In addition, the maximum loan will increase from £950,000 to £1.5m and the maximum property value will be uncapped, while drawdown plans will also be relaunched. All Maxi plan rates have also decreased, widening access to the product.
Ben Waugh, managing director at more2life, commented: “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 laterlife lending offerings."
