According to more2life, this is the highest LTV available in the equity release market.
The offerings are Maximum Choice Super 1 and 2, which are open to borrowers between the ages of 55 and 95.
The plans sit within more2life’s wider ‘Maximum’ product suite which now includes eight plan options.
Rates start from 4.78% MER on loans between £10,000 and £750,000, against properties valued from £100,000 to £1m; fixed early repayment charges (ERCs) also apply.
Clients also benefit from downsizing protection, the ability to make up to 12% partial penalty free capital repayments from day one and ERC exemption on death or admission into long-term care in joint cases.
Stuart Wilson, corporate marketing director at more2life, said: “Today’s product announcement reinforces our commitment to delivering a competitive and market-leading proposition to our adviser partners and their clients.
“By offering the highest LTV available in the lifetime mortgage market, we are confident that advisers serving older borrowers will be better equipped to support this demographic with their later life lending needs.
“Over the coming months, enhancing our proposition with this end goal in mind will continue to be a focus for us and we look forward to adding new plans to our extensive product range soon.”
