The Apex ‘Plus’ and ‘Super’ products are open to borrowers aged between 55 and 84 with a minimum loan of £10,000.
The products allow borrowers to make partial repayments of up to 10 per cent of the initial loan amount each year without incurring any additional early repayment charge (ERC).
It is available against properties valued at between £100,000 and £1.2m. The range offers a fixed ERC which reduces to four per cent after four years.
The maximum loan to value (LTV) available is 51.2 per cent, which More2Life claims is the highest in the market.
Ben Waugh (pictured), managing director at More2Life, said: “Our steadfast commitment has always been to provide impactful products that meet the changing needs of the later life lending market. Today’s whole of market relaunch of our Apex Plus and Super product lines highlights that while rates are higher than those seen in early 2022, we are still pushing to support as many customers as possible.
“There continues to be a high level of interest in equity release products in the UK, as consumers explore how they can unlock the value of their property without needing to sell it. In combination with modern lending flexibility, our full range of products will provide consumers with the best possible range of options as they continue to discuss and evaluate their finances with specialist advisers.”
