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More 2 Life Prime Choice Details & Rates

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Prime Choice

  • Type Fixed
  • Rate 4.94%
  • APR 5.12%
  • Free Valuation
  • Free Application
  • 10%pa Partial Payment Option
  • 3-year No Early Repayment Charge*
  • 5-Yr Downsizing Protection
  • Fixed Early Repayment Charges
  • Inheritance Protection Feature


More2Life are equity release lending specialists borne from the specialist 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. The More2Life Prime Choice Lifetime Mortgage Plan is funded by Rothesay Life.

More2Life provide a range of lifetime mortgage plans including the Flexi Choice, Capital Choice, Tailored Choice and Maximum Choice plans. This Prime Choice Equity Release Plan is a Lump Sum Lifetime Mortgage plan which aims to offer a higher maximum lump sum combined with a plethora of flexible options.

Enabling balance control measures with a flexible 10% partial repayment facility, More2Life aim to offer this Prime Choice lump sum equity release scheme to a wider generic audience of retirees looking for options to meet their changing future needs.


The More2Life Prime Choice Plan is specifically designed for homeowners looking for a simple larger lump sum, alongside a suite of flexible options to assist any change in lifestyle that may arise in the future.

The minimum property valuation applicable to this More2Life Prime Choice Lifetime Mortgage is just £100,000, with no maximum upper property valuation. The minimum valuation is however £150,000 for ex-local authority houses and bungalows.

Property location which must be the homeowners main residence, needs to be located within England and Wales only. More2Life will accept freehold and leasehold properties in England and Wales. More2Life's criteria for leaseholds in England and Wales are defined as a minimum of 115 years remaining at the time of completion.

More2Life's Prime Choice 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 on this lifetime mortgage.

The minimum release on the Prime Choice plan is £10,000 with a maximum loan capped at £600,000. For loans greater than this, bespoke quotations are available via Equity Release Supermarket. Please call Freephone 0800 802 1051 for your More2Life Prime Choice personalised Key Facts Illustration.


This More2Life Prime Choice plan aims to provide a larger initial tax-free lump sum cash release for immediate use. This is ideal for those needing access to immediate cash and the largest amount possible.

The size of the maximum lump sum is directly related to the age of the youngest applicant & the valuation of the property. Therefore, the older the applicant is - the higher the overall maximum loan will be made available.

A generous free valuation is offered along with a fixed equity release lifetime interest rate on the initial lump sum. More2Life bring fixed early repayment charges to their Prime Choice plan which start at 10% in year 1, reducing by 1% each year, so that in year 10 the early repayment charge (ERC) is just 1%. There is no ERC from year 11 onwards.

Another important feature that the More2Life Prime Choice plan offers is the downsizing protection feature. This inclusion allows anyone moving home after a period of 5 years from inception, to repay the loan in full with NO penalty.

All versions of the More2Life Prime Choice come with the industry recognised 'No Negative Equity Guarantee'. More2Life being members of the Equity Release Council, therefore ensure that any beneficiaries cannot by burdened by any debt over and above the final value of the property.


This More2Life Prime Choice Lump Sum scheme enables any homeowner to spend their tax-free equity as they wish, with no requirements to making any repayments.

However, as part of the More2Life Prime Choice Plan features is the Voluntary Partial Payment Option, which ellows homeowners 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, either to reduce the roll-up effect of the interest, pay off the interest only, or even reduce the future balance by utilising the full 10% per annum allowance.

A further option included in the Prime Choice plan is the Guaranteed Inheritance Feature which provides an option for the homeowner to secure a fixed percentage of the final sale value of the property to their beneficiaries. This is important for those who wish to guarantee a percentage of the house value from their inheritance.

*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 Prime Choice Lifetime Mortgage, please contact the Equity Release Supermarket team on Freephone 0800 802 1051 today.

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