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More2life launches Maximum Choice product


Equity release lender More2life has developed a product with rates of 5.65 per cent for a one-off lump sum payment and 5.85 per cent for drawdown.

The lender’s new Maximum Choice product has several consumer options, all without any fees.

Maximum Choice is available for homeowners aged more than 55 with homes valued between £70,000 and £5m.

Minimum drawdown is £500 and downsizers are exempt from early repayment charges.

There is also a guaranteed inheritance feature, meaning borrowers can ringfence a percentage of their home’s future value as inheritance.

LTV ratios range from 25.5 per cent to 54 per cent. There is a partial capital repayment option of 12 per cent

More2life chief executive Dave Harris says: “By bringing new products and features to the market we can offer better options. Maximum Choice is a prime example of this commitment, as it has the widest range of features we have ever launched.



Equity release gave economy £7bn boost in 2017: L&G

  Cash raised by releasing equity from homes put £7.1bn into the UK economy last year, according to Legal & General research. The firm’s ‘silver spenders’ report analysed the current direct, indirect and induced impact of released equity on economy and industry. It found that for every £1 of housing wealth accessed through equity release […]


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