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At a glance

  • Clients can make up to 12% partial repayments each year, with no ERCs
  • Loans from £10,000 - £750,000
  • LTVs from 22.5% to 54%
  • Available to clients aged between 55 and 95

Plan features

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.

Fixed ERCs

The early repayment charge is 6% in years 1 - 5, in years 6 - 10, dependent upon the benchmark rate confirmed in the offer document, the ERC will be 6% if gilt rates have decreased since the start of the loan or 0% if gilt rates have increased or stayed the same, and 0% from year 11 onwards.

Partial repayments

Your client can choose to make partial repayments of up to 12% per year with no early repayment charges. Each repayment must be a minimum of £50 and must not exceed 12% of the loan amount per year.

Inheritance protection

This feature comes as standard, at no extra cost. If your client does not take the maximum loan amount available from the outset, whatever percentage of the available loan that is left unused is the percentage of the future value of their property that is protected.


FAQ's

  • 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 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.

  • How does my client make a partial repayment?

    Your client can contact more2life on 03454 150 150 to make a repayment.

  • Is there an option for my client to leave an inheritance?

    Our Maximum Choice plans come with inheritance protection as standard which allows your client to protect a percentage of their future property value for their loved ones.

  • What are my client’s obligations once the 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.

  • What costs are involved in setting up a Maximum Choice plan?

    Download our Tariff of Charges for a breakdown of the costs involved.



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. 

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Capital Choice

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

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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.

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Maximum Choice

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

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Prime Plans

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

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