more2life has launched lifetime mortgage product Omni, which is aimed at expanding the lending options available to advisers and their older homeowner clients.
The later life lender says Omni is designed to reflect the evolving nature of customer needs in later life.
It offers the lender’s highest loan-to-values (LTVs) at 55.3%, a broad criteria across age and property types, and enhanced overpayment flexibility.
Omni, which accepts applications up to age 89, includes a six-year early repayment charge (ERC) structure and allows clients to make up to 15% voluntary overpayments each year.
It supports loans from £20,000 up to £1.82m, on property values between £100,000 and £3.5m, and offers an LTV range of from 25.5% to 55.3%.
The lender says annexes, ex-local authority home, modern methods of construction, multiple title properties and single skin wall constructions are all accepted subject to terms.
more2life chief executive officer Dave Harris says: “As the later life lending market matures, advisers are rightly looking across the full spectrum of product options to deliver better outcomes for their clients.”
“With Omni, we’ve built a product that responds directly to the needs advisers are seeing every day – whether that’s homes with non-standard construction, high LTVs, or those looking for greater flexibility around borrowing and repayments.”
“This product sits alongside the broadest range of later life lending products in the market, with highlights such as Flexi Interest Reward and Tailored Interest Reward, and it reinforces our long-term commitment to providing the right lifetime mortgage solutions for every type of client. But we know advisers need more than just good products, they need great tools too.”
