It revealed that, based on SHIP figures for Q3 returns, its market share has increased from 7.2% in Q2 and was up from 3.5% in the last quarter of 2010 – its first full quarter of operation.
More 2 Life offers enhanced terms for medical conditions or lifestyles that affect life expectancy.
It said that around 60% of customers are qualifying for the highest level of enhanced LTVs, ranging from 34% at age 65 to 44% at age 75.
It added that remortgaging in the equity release market is likely to rise, as customers take advantage of the historic low in gilt-backed redemption charges.
Jon King, managing director of More 2 Life (pictured), said: “The success of enhanced equity release demonstrates the need for innovation in the market.
“Equity release has a bright future based on demographic trends, but the industry needs to offer products which are suited to the needs of retired people.
“Enhanced equity release recognises and meets immediate customer needs to maximise capital from their property wealth when they need it.”
