more2life has announced several updates to its ‘Capital Choice’ product suite as it aims to provide a broader range of lending solutions to later life borrowers.
The equity release lender’s product range now includes two new plans – ‘Midi’ and ‘Max’ – as well as a refreshed ‘Plus’ plan, to offer a greater range of LTV options and rates.
For the new ‘Midi’ and ‘Max’ plans, loans are available from £10,000 to £1.5m on either a lump sum or drawdown option. As part of the update, more2life also confirmed the ‘Max’ plan offers the highest LTV options within the Capital Choice range for clients under the age of 85.
The latest moves follow the launch of more2life’s ‘Prime Max Lump Sum’ plan, which offers the highest LTV in the equity release market.
more2life corporate marketing director, Stuart Wilson, commented: “We are proud of the range of options that our Capital Choice plans offer and today’s raft of updates provides additional flexibility and choice for the older homeowners – and the advisers who support them.
“A broader range of plans and LTVs marks an exciting step in more2life’s development, as well as the wider later life lending industry’s growth. We hope that advisers will welcome today’s news as an opportunity for them to further support older clients and provide this cohort with practical solutions that suit their modern-day needs.”
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