New Lump Sum Equity Release Plan Launched By More2Life
More 2 life a leading UK equity release provider has launched a new “Prime Choice” lump sum lifetime mortgage with a flexible partial capital repayment option.
The equity release plan is available for customers aged 55-84 years old, with a minimum property value of £100,000.
Prime Choice also offers an uncapped guaranteed inheritance feature and an ERC exemption for people looking to downsize in future and joint life cases where a partner passes away or goes into a long term care home.
The equity release plan is suitable for UK homeowners who are looking to release equity in their homes from £10,000, up to £600,000.
Dave Harris, CEO at more 2 life, commented:“We are committed to offering customers greater choice in the equity release market, which is why we are delighted to announce the addition of Prime Choice – and our fifth major funding partner – to our ever-expanding product range. With the equity release industry growing at an unprecedented rate, product innovation will be at the heart of expanding the market further and more 2 life is dedicated to being at the forefront of this.
“As a greater number of retirees realise the benefits of unlocking their property wealth to boost their income, it is vital for lenders to continue creating innovative and flexible solutions to meet the shifting needs of a growing ageing population. Through Prime Choice, we’re able to provide older homeowners with the modern lending features they want and need in order to live the retirement they deserve, and also ensure they have the finances they need to fund their later lives comfortably.”
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Equity release may affect your entitlement to state benefits and will reduce the value of your estate. It may involve a lifetime mortgage or home reversion plan. All content set out in this website is provided for information only and should not be considered as advice. It is strongly recommended that you seek advice of a qualified, independent financial advisor before making any decisions to take out an equity release product.