It expects the number of advisers offering the plan to increase by over 800%
Later life lender more2life has expanded the distribution footprint of its flexi-choice equity release plan – a move that will see the number of advisers able to offer the plan to their customers jump from 500 to over 4,500.
According to the lender, the plan is offered in two variants, flexi-choice for properties up to £2 million and flexi-choice premier for properties over £2 million.
Rates start from 6.03% monthly equivalent rate (MER) for flexi-choice and 6.01% MER for flexi-choice premier, with loan-to-values (LTVs) between 6% and 46%. Loan sizes are from £10,000 to up to £1 million and £2 million.
In addition to having the lowest rates on the market, benefits of the plan include a guarantee of 10-day application to offer process, a free energy performance certificate (EPC) on completion, and fixed early repayment charges (ERCs).
“With the recent figures from the Equity Release Council highlighting that we are starting to see green shoots in the market, more2life is keen to support advisers as they speak to customers by making this market-leading plan more readily available,” stated Ben Waugh (pictured), managing Director at more2life.
“Not only are the rates the best on the market, but flexi-choice also offers a service promise, free energy performance certificates, and fixed ERCs as well. This is a particularly compelling offering when rising rates mean that customers are scrutinising product flexibilities more than ever.
“We look forward to working closely with a wider range of advisers to support their clients’ growing needs.”
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