Its Tailor Enhanced range aims to offer eligible clients with “expanded access” to higher LTVs. Customers need to answer 13 medical and lifestyle questions, and once that is processed, LTVs of up to 54 per cent are available.
Clients who meet one or more of a set of conditions will be eligible. This includes being an active smoker, having experienced cardiovascular problems and if the customer has a formal diagnosis of angina.
The Maxi Choice range, which is aimed at older borrowers in the market, has an increased maximum age of 89 years and 364 days. This is an increase from 84 years old previously.
The Max Super 1 and Super 2 products will be relaunched, and the maximum loan will increase from £950,000 to £1.5m.
The maximum property value will be uncapped, and drawdown plans will be relaunched.
Maxi plan rates have fallen, which the lender says will widen access to the product.
Ben Waugh (pictured), managing director at More2life, said: “As more and more older UK homeowners look to use equity release as a tool to enhance their income and fund financial gifts for younger relatives, it’s important that borrowers can access a wide spectrum of competitive LTV options.
“At More2life, we pride ourselves on providing a wide range of options for customers, and the relaunch of our Tailored Enhanced and Maxi Choice ranges is the latest step in our long-term strategy to set a new benchmark in later life lending offerings.
“Product ranges will continue to evolve, so customers must seek a comprehensive conversation with an expert, who can often provide access to suitable products that are otherwise unavailable on the direct market.”
The lender launched its flexi payment equity release deal to close the gap between an interest serving and roll-up lifetime mortgage and has brought out an automatic redemptions service.
Earlier this week, More2life said that it was prepared to stop offering its products via firms not complying with Consumer Duty.
