It adds to benefits such as fixed ERCs and free EPC
Later life lender more2life has unveiled enhancements to its Flexi Choice range of equity release products, now offering higher loan-to-value (LTV) ratios across all age groups, with a maximum LTV of up to 48%.
The Flexi Choice range includes two variations: Flexi Choice, suitable for properties valued up to £2 million, and Flexi-Choice Premier, designed for properties exceeding £2 million.
Both options offer significant advantages, among them competitive rates and a complimentary energy performance certificate (EPC) upon completion, which aids customers in enhancing their property’s energy efficiency.
Read more: Pure Retirement raises LTVs on Classic range
Further benefits include loan amounts ranging from £10,000 to £960,000 in England and up to £480,000 in Scotland and Wales. The terms also feature fixed early repayment charges and a three-year compassionate clause, allowing ad-hoc repayments up to 10% of the total advanced in each 12-month period.
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“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,” said Ben Waugh (pictured), managing director at more2life.
“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.
“As the industry continues to set new benchmarks for affordability-centred customer service, we look forward to working closely with a wide range of advisers to support their clients’ growing needs.”
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