The product range now includes two new plans – named ‘Midi’ and ‘Max’ – and a refreshed ‘Plus’ plan, offering a greater range of LTV options and rates.

As part of the update, more2life’s new ‘Max’ plan offers the highest LTV options within the Capital Choice range for clients aged under 85.

Stuart Wilson, corporate marketing director at more2life, said: “We are proud of the range of options that our Capital Choice plans offer and today’s raft of updates provides additional flexibility and choice for the older homeowners – and the advisers who support them.

“A broader range of plans and LTVs marks an exciting step in more2life’s development, as well as the wider later life lending industry’s growth.

“We hope that advisers will welcome today’s news as an opportunity for them to further support older clients and provide this cohort with practical solutions that suit their modern-day needs.”