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
  • Loans from £10,000 - £600,000
  • LTVs from 27% to 56%
  • Available to clients aged between 55 and 84

Plan features

Inheritance protection

With Prime plans, this comes as standard, at no extra cost, as long as your client does not take the maximum loan amount available.

Fixed ERCs

Early repayment charges on Prime plans 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 year 10, and 0% from year 11 onwards.

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.

Partial repayments

Your client can choose to make partial repayments of up to 10% per year with no early repayment charges. Each repayment must be a minimum of £50 and must not exceed 10% of the loan amount per year. 

Repayments are applied to outstanding balance, and not the initial loan, so clients can continue to pay and reduce loan to zero as long as repayments remain within 10% per annum.


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 more 2 life on 03454 150 150 to make a repayment.

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

    Our Prime 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 more 2 life 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 Prime plan?

    The Tariff of Charges provides a breakdown of the costs involved.



Documents

Tailored Plus

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

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