More 2 life has announced the launch of its ‘Capital Choice Lite’ product range.
The products within the new range allow borrowers to release equity from their homes with a MER starting at 4.02 per cent for lump sums, and at 4.32 per cent for drawdown plans, according to the lender.
The offers include fixed early repayment charges, partial repayments from day one, downsizing protection and inheritance protection of up to 50 per cent.
The range is available through advisers for homeowners over 55.
More 2 life chief executive Dave Harris comments: “We are delighted to announce the launch of our Capital Choice Lite products, which look to build on our Capital Choice plan.
“We have worked closely with advisers to develop products that their clients want and that provide them with the flexibility they need.
“Due to increased competition in the market this has driven equity release interest rates to some of the lowest they have ever been.”