The lender said the product range is designed for customers who want the “flexibility” to meet “potential future changes in circumstances”, so they want a lump sum upfront and don’t need a drawdown facility.
According to More2life, this could fit customers who want to “clear an existing mortgage and reduce outgoings, improve or adapt their home, support family, or fund additional help in later life”.
It is also aimed at borrowers aged 90-95, so advisers have a wider range of options for clients at older ages.
The Apex Reward offers borrowers the opportunity to secure interest rate discounts of up to 0.75% by committing to make monthly interest payments for a set period on their lifetime mortgage.
Dave Harris (pictured), CEO of More2life, said: “By relaunching our Apex and Apex Interest Reward ranges, More2life is continuing our mission to unlock more choice for advisers and their clients, opening up lifetime mortgages to a wider range of homeowners.
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“Advisers have been clear – high-LTV cases don’t all look the same, and the priorities of a client can vary sharply between cases. You can’t meet those different needs through a single high-LTV product.
“The Apex range is a brilliant complement to our Omni products. Both are designed to support high-LTV borrowing across later life, but they meet different needs, ensuring for most clients, advisers will have a suitable lifetime mortgage solution for them.”
He continued: “The relaunch of Apex Interest Reward also underlines the value of comprehensive conversations. A clear understanding of a customer’s needs and circumstances enables advisers to make informed decisions, using sourcing technology that captures the full range of product features and benefits to achieve the most appropriate outcome.
“2026 is going to break new ground for later life lending, in terms of the way the regulator looks at the sector, and how we as an industry meet the increased demand and need for such products.
“Starting the year with the relaunch of Apex and Apex Interest Reward is a real statement of intent. At More2life, we have built our reputation by focusing on delivering more options to advisers, and helping their clients achieve better outcomes.
“This relaunch is just the start of an exciting 12 months for More2life, with more product launches and enhancements on the way.”
Recent enhancements that More2life has made include shortening the ERC period for its Flexi product, adding an ‘Age Next Birthday’ feature to sourcing and integrating Standard Life Home Finance’s Horizon range into its offering.
