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More2Life brings back prime choice product range

  • 02/05/2023
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More2Life brings back prime choice product range
Later life lender More2Life has brought back its prime choice product range following a six-month hiatus due to the mini Budget.

The prime choice lump sum product range has revised loan to value tiers, ranging from 17.8 per cent for younger borrowers to 48.1 per cent for those aged 84.

The age range for prime products goes from 55 to 84.

Interest rates start from 6.6 per cent and the loan values go from £10,000 to £600,000. The maximum goes up to £1m in London and the South East.

Les Pick (pictured), director of sales at More2Life, said: “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.”

He added: “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.”

The range will sit alongside its flexi, tailored, maxi and capital choice products.

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