​More 2 Life (More To Life) Equity Release ​Products


Release Tax-Free Equity From Your House As A Cash Sum Or Regular Payments

  • ​Release tax-free cash from your home with More To Life

  • Zero regular monthly payments

  • Use the money to purchase another house or pay off your credit cards or other outstanding bills

  • Still paying a current mortgage? That’s OK we can help you

Popular Product  - Flexi Choice Super Lite

Type:

Fixed

Rate:

2.89%

APR:

3.05%

Benefits And Incentives To You:

  • 10% pa Partial Repayments Option
  • Fixed Early Repayment Charges
  • Downsizing Repayment Charge Exemption
  • Fees-Free Option*
  • Free Evaluation
  • No Charge Application
  • Get A Free No-Obligation Quote Below:


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    By clicking "Get Your Free Quote" you agree to be contacted by email or telephone by an FCA authorised firm and confirm that you have read and agreed to our Terms & Conditions and our Privacy Policy


    The broker will compare options from the following brands only:
    Aviva, Hodge Lifetime, Just (Just Retirement), Legal & General (L&G), LV (Liverpool Victoria), More2Life, OneFamily, Pure Retirement, Retirement Advantage.

    Find the Right Equity Release Deal - Rates from 2.96% for 55 and Over.

    We Are Open At Weekends!

    Lets Get Started: More2Life Equity Release Reviews


    Key Points:

    • Long-established speciality equity release provider
    • Various products catering exclusively to the over 55 market, including Enhanced Lifetime Mortgages
    • Guaranteed Inheritance Feature included on all plans

    About More2Life


    More2Life is an award-winning equity release company. Just in 2018, More2Life were awarded the following accolades:

    • Best Later Life Lender
    • Highly Commended Best Equity Release Lender
    • Best Lifetime Mortgage Lender

    The company has specialised in equity release products since their inception in 2008. Throughout the years, they’ve come to be known as innovators for later life borrowing, helping homeowners over the age of 55 to borrow flexibly based on the equity held in their homes.


    More2Life is now Britain’s 3rd Largest Equity Release Company and has now helped homeowners unlock £1 billion in property wealth. They’re also regulated by the Financial Conduct Authority and are a Board member of the Equity Release Council.

    WE ARE HERE TO HELP YOU

    Contact Us Today!

    The More2Life Lifetime Mortgage Products


    Capital Choice 


    The capital Choice plan provides eligible homeowners with a lump sum tax-free payment. More2life now includes a drawdown option on this plan, which is subject to a minimum of £2,000 withdrawal.

    • Age requirements are 60 to 95
    • The minimum loan amount is £15,000
    • The maximum loan amount is £500,000
    • The minimum property valuation is £70,000
    • Optional partial repayments are available up to 10% of the initial loan per the calendar year

    Tailored Choice


    This plan can cater to those with a shorter life expectancy and can be used for incremental withdrawals or a lump sum payment.

    • The minimum age is 55 years old
    • The minimum loan amount is £10,000
    • The maximum loan amount is £971,250
    • The minimum home valuation is £70,000
    • Drawdown is available, subject to a minimum lump sum withdrawal of £5,000

    The More2Life Tailored Choice plan is designed to offer more flexible borrowing terms for older people with health concerns and can provide better terms. Your advisor will go through a series of health and lifestyle questions, requiring just a yes or no answer. There is no medical to attend, and there may be more competitive interest rates if you have a medical condition that’s expected to lower your life expectancy. 


    Flexi Choice


    The Flexi plan is the most straightforward plan to provide a one-off tax-free lump sum payment.

    • Age requirements are 55 to 80
    • The minimum loan amount is £20,000
    • The maximum loan is £420,000
    • The minimum property valuation is £100,000
    • Mortgage porting is available subject to the new property meeting the More2Life lending criteria
    • Early repayment charges are payable if repaid within the first 15-years. ERCs are based on a sliding scale starting at 6% in the first five years, lowering to 5.3% up to ten years, then 1% in years 11 to 15. There are no early repayment charges from year 16; however, there will be a £125 redemption fee payable.
    • There are optional repayments available up to 10% of your loan capital per the calendar year, subject to minimum payments of £500 and subject to a partial repayment fee of £100 per payment.

    Maximum Choice


    The More2Life Maximum Choice plan is the most flexible plan allowing for both lump sum payments and drawdown. If opting for drawdown, a minimum withdrawal of £500 applies.

    • Age requirements are 55 to 95 years of age
    • Borrow from £10,000 to £1 million
    • The minimum property valuation is £70,000
    • The minimum loan amount is £10,000
    • On joint plans, the surviving partner is eligible to repay the loan within three years, free of early repayment charges. There is no obligation to repay though as the lifetime mortgage will remain in place until both people pass, or move into a long-term care home.
    • Up to 12% partial repayments can be paid per the calendar year (optional)

    Additional Features of More2Life Equity Release Products

    • Up to 3% cashback is available when you release a minimum of £35,000
      Downsizing protection is available after five years, allowing you to downsize your home without incurring an early repayment charge
    • Early repayment charges are waivered if you choose to repay the total loan amount including interest following the death of your spouse or partner
    • All More2Life Lifetime Mortgage plans include a guaranteed inheritance feature, at no additional cost to you. With this, you can protect up to 50% of your home’s value, provided you have enough equity. This will lower the total amount you can borrow.

    Ways to reach 1st UK


    ​GIVE US A CALL

    0203 129 3081

    ​SEND US AN EMAIL

    enquiry@1stukmortgages.co.uk

    ​VISIT OUR OFFICE

    329-339 Putney Bridge Road

     More To Life Equity Release In Summary


    All Equity Release plans from More2Life offer the following as standard:

    • A no negative equity guarantee
    • The ability to port your mortgage to a new home, subject to lending criteria
    • You always remain the homeowner
    • On joint plans, early repayment fees are waived if you choose to repay the loan amount in its entirety following the loss of your partner
    • Fixed early repayment charges based on a sliding scale from 6% in the first five years, dropping to 5.3% in years 6 to 10, then 1% in years 11 to 15 with no fees applied from year 16 and onwards.

    Optional features include:

    • Being able to unlock more equity using the Enhanced Lifetime Mortgage, subject to eligibility
    • A guaranteed inheritance feature
    • The option to repay 10% (12% on the Maximum Choice plan) of the initial loan amount

    Flexible Lending the Way You Need It!


    As with all lifetime mortgages, you do need to consult with a financial advisor. 1st UK is experienced in equity release and can compare the whole of market to ensure More2Life have the best and most suitable product to meet your needs, and with any safeguards, you want in place for financial protection.


    Of all the equity release companies there are, More2Life certainly do stack the benefits, but that’s not to say any of their plans will be suited to you. All plans use interest roll up, which means when you take the lifetime mortgage out, interest is added to the loan amount and rolled up until it’s repaid.


    There are no requirements for you to pay any money back in your lifetime. Instead, when you or you and your partner pass if you choose a joint lifetime mortgage, the loan and interest due will be paid following the sale of your home.

    The surviving partner can choose to move home or repay the loan in its entirety free of any early repayment charges if it’s done within three years of one partner passing on. They are never under any obligation to repay the loan or to sell the home.


    How Most Customers Choose to Spend the Money Raised through More2Life Equity Release


    As there are no restrictions on how you can spend the money you release from your property, you can spend it as you wish.

    For some nearing retirement age or those on an interest-only mortgage, some of the equity released will be used to repay an existing mortgage.


    Drawdown customers can choose to take a smaller initial lump sum payment to:

    • Upgrade your car
    • Go on holiday
    • Pay for home improvements
    • Repay any outstanding debts
    • Treat your family

    With the additional benefit of having funds on reserve to use in the future.


    How 1st UK Can Help You Raise Funds for Retirement


    1st UK are whole of market brokers and advisors able to discuss a variety of borrowing methods suited to the over 55s. Those in retirement or nearing retirement have a range of ways to release some of the wealth currently locked into their homes.


    The minimum amount you can borrow is £10,000 based on your property valuation. You don’t need to take all of that as there are various plans from a variety of equity release companies offering drawdown facilities, letting you leave some of your home equity untapped to use in later years to help fund your retirement years more comfortably.


    As with all financing options when your home is involved, expert advice is a crucial component. With equity release/lifetime mortgages, it’s not only advised – it’s mandatory.


    The team at 1st UK will explain how things work, other ways you can borrow, and the most affordable, and financially responsible method of borrowing that’s right for your situation.


    Please note that the more2life logo is a trademark of More To Life Limited, to which we have no direct affiliation. The equity release firms we work with provide quotes from many providers.

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    ABOUT US


    1st UK have formed strong relationships with finance providers, meaning we are often the first to hear about new products before they reach the market.

    ​GET IN TOUCH


    • Call us 0203 129 3081
    • enquiry@1stukmortgages.co.uk
    • Putney Bridge Road, London