"Customer demand for more flexibility and a wider range of options is driving innovation at the moment."
more2life has announced the return of its Prime Choice product range, following a six-month hiatus due to the market challenges after the Government’s mini-budget in September 2022.
The Prime Choice lump sum product range has been refreshed, with updated LTVs and interest rates. The revised LTVs range from 17.80% on the younger end up to 48.10% for those aged 84.
Interest rates start from 6.60% and the loan value ranges from £10,000 - £600,000 (£1,000,000 in London and the South East).
Les Pick, director of sales at more2life, commented: “The return of Prime Choice to the market highlights the further confidence in the sector following the challenges of the September mini-budget. With Consumer Duty approaching, the return of innovative products such as Prime Choice which are designed to better serve older borrowers will - I am sure - be welcomed with open arms.
“While Consumer Duty will no doubt spur on lenders to consider their product offerings, customer demand for more flexibility and a wider range of options is driving innovation at the moment. With more customers looking for support and expecting terms that mirror those in the wider mortgage market, there is a real opportunity to build strong foundations on which to grow this sector.”
