more 2 life

The adviser site is intended for UK professional intermediaries only and has not been approved for customer use. Please confirm that you are an adviser.

Yes, I am an adviser No, take me to customer site

03454 500 151

At a glance

  • Clients can make up to 10% partial repayments each year with no ERCs
  • LTVs from 5% to 46%
  • Loans from £10,000 to £1.85m
  • Available to clients aged between 55 and 84

Plan features

Partial repayments

Your client can choose to make partial repayments of up to 10% per year with no early repayment charges. There can be a maximum of 12 repayments made per year, and each repayment must be a minimum of £50. The repayments must not exceed 10% of the total cash advance.

 

Fixed early repayment charges

Early repayment charges on all Flexi Choice products are fixed, and are 10% of the amount being repaid in year 1, 9% in year 2, 8% in year 3, 7% in year 4, 6% in year 5, 5% in year 6, 4% in year 7, 3% in year 8, 2% in year 9, 1% in years 10–15, and 0% from year 16 onwards.

Drawdown facility

Drawdown facilities are available on all of our Flexi Choice plans, excluding our Premier products.

Unless your client is taking the full loan amount available to them, they can release a smaller lump sum initially and have the remainder in a drawdown facility to release as and when needed.

Downsizing protection

This feature is designed to give your client peace of mind should they need to sell their home and repay their loan in full because they are moving to a property that does not meet our lending criteria.

After an initial period of five years, your client can repay their loan as a result of such a move without incurring any early repayment charges.


FAQ's

  • Are there any limits on the drawdown facility?

    The facility on all Flexi Choice Drawdown products is limited to the maximum LTV, minus the minimum initial loan amount. Each drawdown release must also be at least £2,000. There is no limit on the number of drawdowns your client can release.

  • Can my client move house in the future?

    All of our plans are portable, meaning that the plan can be transferred to a new home without financial penalty, as long as the new property meets the requirements of our lending criteria. If your client wanted to move to a new home outside of our lending criteria after an initial period of 5 years, downsizing protection would allow them to repay their loan in full without incurring any ERCs. If your client is moving to a lower value property, or the original loan amount, plus interest, is greater than the LTV on the new property, your client will usually need to repay part of their lifetime mortgage. Please refer to the Tariff of Charges for details of fees that will be applied when moving home.

  • What are my clients' obligations once their plan is arranged?

    Your client is required to live in and keep the property in a good state of repair for the duration of the loan. They are also required to inform more2life before anyone not party to the loan moves into the property. The property must be adequately insured for the duration of the loan. For further details, please refer to the Key Facts Illustration.



Documents

Tailored Plans

Tailored Plus provides a medically underwritten lending solution, along with the ability to make up to 10% partial repayments each year.

Tailored Lite, available to those who are registered with the Air Mortgage Club, provides a high release with competitive rates. 

Explore

Capital Choice

Our Capital Choice plans allow clients to have a lifetime mortgage, as well as the ability to make partial repayments without penalty.

Explore

Flexi Choice

Our Flexi Choice lifetime mortgages give your clients a competitive interest rate and the flexibility to make partial repayments. They can choose to take either a one-off lump sum, or a series of smaller lump sum payments.

Explore

Maximum Choice

Clients can repay up to 12% of their loan each year without incurring an early repayment charge.

Explore

Prime Plans

Our Prime plans allow clients to take a one off lump sum with the ability to make partial repayments from day 1.

Explore