more 2 life launches Lite equity release range

Maximum Choice Lite rates start from 4.56% for a one-off lump sum payment and 4.71% for flexible drawdown with LTV ratios ranging from 22.5% to 51%.

Maximum Choice Lite is available for homeowners aged over 55 and offers all of the same features of the main plan, including partial capital repayment options, a guaranteed inheritance feature and no ERCs for downsizing.

Dave Harris, CEO of more 2 life, commented: “The launch of Maximum Choice Lite highlights our commitment to product innovation within the equity release market, especially in the very high LTV end of the market where this product sits. It also clearly shows that we are listening to advisers and clients by providing new products to suit customer needs.

“The new LTV range provided by Maximum Choice Lite allow clients to release the most appropriate amount of equity from their home as cost effectively as possible whilst incorporating desirable product features such as early repayment charge exemptions, guarantee inheritance protection and a low minimum drawdown. Product innovation in the equity release sector, such as Maximum Choice Lite, provides new opportunities for those either in retirement or planning their retirement finances.”