"While rates are higher than those see in early 2022, we are still pushing to support as many customers as possible. "
more2life has relaunched its Apex product range which currently offers the highest LTVs in the market.
The Apex Plus and Super products are available for customers aged between 55 and 84, with a minimum loan of £10,000. Apex plans were paused following the mini-Budget fiscal event but have now been relaunched on an ongoing tranche basis.
Customers using Apex can make partial repayments, with the option to make repayments of up to 10% of the initial loan amount in each non-overlapping 12-month period, beginning the day the loan completes, without incurring any extra early repayment charges.
The Apex product range is applicable for these customers who live in properties valued between £100,000 and £1,200,000. Offering a fixed early repayment charge which reduces to 0% after four years, the range offers LTVs up to 51.20% for older ages.
Ben Waugh, managing director at more2life, commented: “At more2life, our steadfast commitment has always been to provide impactful products that meet the changing needs of the later life lending market. Today’s whole of market relaunch of our Apex Plus and Super product lines highlights that while rates are higher than those see in early 2022, we are still pushing to support as many customers as possible.
“There continues to be a high level of interest in equity release products in the UK, as consumers explore how they can unlock the value of their property without needing to sell it. In combination with modern lending flexibility, our full range of products will provide consumers with the best possible range of options as they continue to discuss and evaluate their finances with specialist advisers.”
