More2Life are equity release lending specialists borne from the lending arm of Key Retirement. Using external funding models, More2Life offer a range of bespoke lifetime mortgage deals to homeowners over the age of 55.
More2Life provide a range of lifetime mortgage plans. This Apex Super equity release scheme is a lump sum only Lifetime Mortgage plan which aims to provide the maximum release possible via higher loan-to-value ratios.
The More2Life Apex Super Lump Sum Plan is specifically designed for homeowners looking for a one-off lump sum to achieve the highest loan amount possible. This does also come with many features such as the flexibility voluntary payments to assist with controlling the future balance.
The minimum property valuation applicable to this More2Life Apex Super Mortgage is £100,000 with an upper maximum property valuation of £1.2 million. There is a separate minimum loan for ex-local authority properties and bungalows of £150,000. Please contact us directly on properties over £1.2m as More2Life may impose restrictions on certain properties over this value.
Property location which must be the homeowners main residence must be located within England, Wales and mainland Scotland only.
More2Life's Apex Super Equity Release scheme is available on both a single and joint life basis with a minimum age of youngest homeowner being 55 and an upper age limit of 84 for this lifetime mortgage.
The minimum release on this More2Life plan is £40,000 with the maximum loan only being capped based on property valuation and age. For larger loans, bespoke quotations are available via Equity Release Supermarket. Please call Freephone 0800 088 5898 for your More2Life Prime Max personalised Key Facts Illustration.
This More2Life Apex Super scheme is an equity release plan which aims to provide a the maximum equity release possible for the homeowner. The tax free lump sum can only be taken in one single amount, however additional borrowing maybe available in the future subject to underwriting criteria.
A generous free valuation is offered along with a fixed equity release lifetime interest rate on the initial lump sum. More2Life now bring fixed early repayment charges to their Apex Super plan start at 8% of the amount repaid and reduce down to 5% in the 5th year with no early repayment charge thereafter.
An additional and valuable feature that the More2Life Apex Super plan offers is the downsizing protection feature, which allows anyone moving home after 5 years to repay the loan in full with NO penalty providing the property you are moving into does not meet M2L's lending criteria.
More2Life are members of the Equity Release Council all their plans come with a no-negative equity guarantee. Therefore, when the home is eventually sold, any beneficiaries cannot be left with a debt owing to the equity release lender.
This More2Life Apex Super Lump Sum scheme enables any homeowner to spend their tax-free cash equity as they wish, with no requirements to making any repayments.
However, as part of the More2Life Apex Super Plan features is the Voluntary Partial Payment Option which enables the homeowner to make upto 10% repayments of the original amount borrowed each year with NO penalty. This helps manage control the future balance of the lifetime mortgage scheme UK, either to reduce the roll-up effect of the interest, pay off the interest only, or even reduce the future balance by using the full 10% allowance.
*The 3-year no early repayment charge applies to joint life plans where the loan is repaid within 3 years of death, or long term care of a partner
To obtain further information or to request a quotation on the More2Life Apex Super Lifetime Mortgage, please contact the Equity Release Supermarket team on Freephone 0800 088 5898 today.
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