more 2 life

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03454 500 151

At a glance

  • Simple underwriting process, just 13 straightforward health and lifestyle questions
  • Loans from £10,000 - £600,000 (Location dependent)
  • LTVs from 25.9% to 54.5%
  • Available to clients aged 55+

Plan features

Enhanced loan to values

We offer high LTVs - up to 54.5% - for a range of medical conditions and lifestyle issues, from being overweight and smoking through to diabetes and cancer. Simple 'Yes' or 'No' answers are all that's required to a short list of medical questions in order for us to determine if a client qualifies for an enhanced rate.

Drawdown facility

With Tailored Plus, your client can release a smaller lump sum initially and have the remainder as a drawdown facility. There are no time restrictions or fees for accessing the facility and an unlimited amount of withdrawals can be made, subject to sufficient funds. Each drawdown must be a minimum of £2000.

Partial repayments

Clients can repay up to 10% of their initial loan within each 12 month period from when the loan completes, without incurring an early repayment charge. Each repayment must be a minimum of £500 per payment, and no more than 6 repayments can be made in each 12 month period.

The amount owed, or outstanding balance, excluding any ERCs must not be less than £10,000. 


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 apply for a further advance?

    If your client would like to apply for a further advance on Tailored Plus, the lending available will depend on the current property value and their age. You will need to generate a medical reference and then contact our Adviser Support team on 03454 500 151.

    Generate medical reference here

  • How does my client make a partial repayment?

    Your client can contact more 2 life on 03454 150 150 to make a repayment.

  • How does my client qualify for Tailored Plus?

    Your client will qualify for Tailored Plus if they say ‘yes’ to any of the questions on our medical questionnaire. 

  • If my client qualifies for Tailored Plus, will they need to undergo a medical?

    A medical examination is not required. more 2 life may ask your client’s doctor to produce a medical report to verify their health conditions.

  • 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 Tailored Plus?

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

  • What if my client wishes to repay their loan?

    As the name suggests, a lifetime mortgage is designed to last for your client's lifetime. It is possible to repay the loan early and in full; however, an early repayment charge may apply. Details of how early repayment charges are calculated can be found in your client's Key Facts Illustration and Application documentation.



Documents

Tailored Plus

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

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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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