More2life will offer the Horizon product from 7 July, and from 6 July, Standard Life Home Finance will not offer new lifetime mortgages.
Existing loans will continue to be managed and serviced by Standard Life Home Finance.
The Horizon product includes fee-free and fee-paying options, as well as the Horizon Interest Reward. The range has a 15-year repayment period for borrowers who want to make monthly interest payments.
The range will be separate from More2life’s current offering and in addition to its Flexi, Flexi Interest Reward, Maxi Zero ERC, Tailored, Capital and Maxi products. More2life said other products would be launched soon.
More2life said bringing Horizon into its product suite would allow it to move to a one-brand structure while maintaining a broad range of products.
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Dave Harris (pictured), CEO of More2life, said: “This is a significant milestone for More2life, with an integration that not only strengthens our market-leading position, but also reaffirms our long-term commitment to the later life lending sector.
“At a time when operational efficiency and clarity are paramount, we think bringing the Horizon range under More2life will enhance both the adviser experience and market visibility. This move means we have a simplified, stronger proposition, whereby advisers can continue to access the fantastic Horizon products with no disruption, and clients will see no change to the excellent service they are accustomed to.
“We will continue to invest heavily in further product innovation, adviser tools, and service excellence, and to support the market in terms of delivering the solutions required for the growing range of homeowners who want and need access to the equity in their homes.”
