more 2 life announces seven hour application-to-offer

The lender says its online portal speeds up the application process makes the sales process more streamlined and easier for advisers.

Earlier this year, more 2 life launcheed a commission payment system to shorten the time advisers are paid to within seven days.

Dave Harris, CEO of more 2 life, commented: “With a growing number of over 55s looking to equity release for their borrowing needs, there is a huge need for the industry to modernise and keep up with changing consumer habits. At more 2 life, we have listened to the needs of advisers and their clients and as a result, we are now leading the market having invested heavily in our online processing systems.

“Historically, the retirement lending market has been slow to embrace modern technology. However, by making a significant investment to streamline our application process, we hope to encourage other lenders to improve their own offerings. Consumers are increasingly looking to manage their finances online and expect a greater efficiency as a result. By offering a truly market-leading application process, we can put our customers at the centre of our new innovations, build our business and continue to grow the lifetime mortgages sector.”