more2life widens Flexi-Choice distribution

more2life has expanded the distribution footprint of its Flexi-Choice equity release plan, seeing the number of advisers able to offer the plan jump from 500 to over 4,500.

The plan is offered in two variants, Flexi-Choice for properties up to £2 million and Flexi-Choice Premier for properties over £2 million, with rates from 6.01% and LTVs up to 46%.

The range offers a service promise which guarantees a 10-day application to offer process, with the customer receiving £500 if more2life fails to meet this deadline. In addition, if the subsequent completion date is moved by more2life, the client receives an additional payment of £200.

Flexi-Choice also offers a free Energy Performance Certificate on completion, fixed early repayment charges as well as a three-year Compassionate Clause, and the ability to make ad hoc repayments of up to 10% of the total cash advanced in each 12-month period.

Loans are available from £10,000 up to £1 million and £2million on Flexi-Choice Premier.

Ben Waugh, managing director at more2life, said: “With the recent figures from the Equity Release Council highlighted that we are starting to see green shoots in the market, more2life is keen to support advisers as they speak to customers by making this market-leading plan more readily available.

“Not only are the rates the best on the market but Flexi-Choice also offers a Service Promise, free Energy Performance Certificates and fixed ERCs as well. This is a particularly compelling offering when rising rates mean that customers are scrutinising product flexibilities more than ever.

“We look forward to working closely with a wider range of advisers to support their clients’ growing needs.”