More2Life - Flexi Choice Lite
Roll up Lifetime Mortgage
Rate: 2.69%
APR: 2.79%
Incentive Deal:
Offers: FREE Valuation Offer | No Application Fee Option* | Fixed Early Repayment Charges | 10%pa Voluntary Partial Payments | Downsizing Early Repayment Charge Exemption

More2life have consolidated their position in the equity release market by designing retirement solutions that aim meet a wide range of customer needs. Being a retirement lending specialist, More2Life offer a flexible approach to mortgage lending solutions for the over 55 age group.

More2Life has joined forces with a leading UK insurer to bring funding and new products into the equity release marketplace. The products are competitive within the marketplace and promote additional choice for homeowners.

The More2Life Flexi Choice Lite is a drawdown lifetime mortgage product that is ideal for the homeowner who wants to have some control over their lifetime mortgage balance, as it permits voluntary payments up to 10% with no penalty.

This product is one of many versions currently offered within this Flexi Choice portfolio. The differences between Flexi Choice products lies in the loan-to-values and subsequent interest rate. The homeowner will likely choose from this portfolio - based on the loan amount they want to borrow.

The More2Life Flexi Choice Lite plan currently offers one of the lowest interest rate in regards to this drawdown range from More2Life. As a consequence of the lower rate, it means More2Life lower the loan-to-values and therefore maximum loan provided. However, this product does offer increased flexibility to homeowners in regards to controlling the outstanding loan debt.

The homeowner receives a lump sum payment while also maintaining the ability to drawdown more funds in the future if necessary. The homeowner can then choose if they want to make voluntary repayments against the loan. If the homeowner does want to make payments, they are able to pay up to 10% of the initial loan amount each year, subject to a maximum of 12 payments and a minimum of £50 a time.

To be eligible for this product, the homeowner must be between the ages of 55 and 84. Available loan amounts range from £10,000 upto a maximum of £1 million.

For a property to be eligible, it needs a minimum valuation of £100,000. It must also be located in mainland Scotland, England, or Wales and be the homeowner's main residence. The maximum valuation More2Life will accept on their Flexi Choice Lite plan is £2 million in England and £1 million in Wales & mainland Scotland.

With the inclusion of the Partial Payment Option, the homeowner is able to make a repayments of up to 10% of their initial loan amount every year, with NO penalty. The homeowner is permitted to make up to twelve payments each year, and minimum of £50 each.

With this product, early repayment charges followed a sliding scale over 15 years. For years 1 to 9, the charge reduces down from 10% to 2%. Thereafter, between years 10-15 the penalty remains at 1%. There is no early repayment charge after the 15 years.

The More2Life Lite plan provides downsizing protection to homeowners. This protection ensures that if the homeowner moves property, and the next property does not meet More2Life's lending criteria, the loan can be repaid with no penalty providing at least 5 years have elapsed from loan completion.

If the homeowner does not want to pay off their loan when moving home, the lifetime mortgage product can be ported and used on the new property.

A drawdown facility is available with this product and cannot exceed 2x the initial loan amount.

The More2Life Flexi Choice Drawdown Lite is suitable for the homeowner who wants flexibility in repaying their loan, with concerns about the impact of interest roll-up and looking for a competitive equity release interest rate.

*taking the no application fee option - will increase the interest rate accordingly

Call the Compare Equity Release team on 0800 678 5169 for further details, or to request a quote on the More2Life Flexi Choice Drawdown Lite Lifetime Mortgage.
These are lifetime mortgages and home reversion plans. To understand their features and risks, ask for a personalised illustration.


  • All schemes are authorised and regulated by the FCA
  • Continued ownership of 100% of your home
  • Interest rates sourced from the whole of the market
  • Continued benefit from future house price increases
  • Special deals with incentives to save you money
  • Free initial advice with no commitment or credit checks

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These are lifetime mortgage & home reversion plans. To understand the risk & features of these plans, request a personalised Key Facts Illustration. helps you to compare and arrange equity release schemes from the whole of the equity release market:

Aviva | Bridgewater | Hodge Lifetime | Just Retirement | LV= | more2life | One Family | Retirement Advantage | Pure Retirement L&G Crown