more2life has launched lifetime mortgage product Omni, which is aimed toward increasing the lending choices obtainable to advisers and their older home-owner shoppers.
Dave Harris
The later life lender says Omni is designed to mirror the evolving nature of buyer wants in later life.
It affords the lender’s highest loan-to-values (LTVs) at 55.3%, a broad standards throughout age and property varieties, and enhanced overpayment flexibility.
Omni, which accepts functions as much as age 89, features a six-year early compensation cost (ERC) construction and permits shoppers to make as much as 15% voluntary overpayments annually.
It helps loans from £20,000 as much as £1.82m, on property values between £100,000 and £3.5m, and affords an LTV vary of from 25.5% to 55.3%.
The lender says annexes, ex-local authority residence, fashionable strategies of development, a number of title properties and single pores and skin wall constructions are all accepted topic to phrases.
more2life chief govt officer Dave Harris says: “As the later life lending market matures, advisers are rightly wanting throughout the total spectrum of product choices to ship higher outcomes for his or her shoppers.”
“With Omni, we’ve constructed a product that responds on to the wants advisers are seeing on daily basis – whether or not that’s houses with non-standard development, excessive LTVs, or these searching for higher flexibility round borrowing and repayments.”
“This product sits alongside the broadest vary of later life lending merchandise available in the market, with highlights resembling Flexi Interest Reward and Tailored Interest Reward, and it reinforces our long-term dedication to offering the proper lifetime mortgage options for each sort of shopper. But we all know advisers want extra than simply good merchandise, they want nice instruments too.”
