More2Life Capital Choice Plan
Roll up Lifetime Mortgage

Scheme Name: More2Life Capital Choice Plan
Interest Rate: 4.42%
APR: 4.58%

Incentive Deal:



FREE Valuation Deal | Cashback Options* | 10%pa Partial Voluntary Payment Option | Guaranteed Inheritance Option | Fixed Early Repayment Charges | NO Application Fee Offer | 5 Year Downsizing Protection

Full details:

More2Life are equity release specialists who by obtaining external funding can re-lend by creating bespoke lifetime mortgage products designed for homeowners over the age of 60.

The More2Life Capital Choice equity release plan is one of their product range which essentially offers a single tax-free lump sum at a competitive interest rate, with the option to make voluntary repayments without penalty.

The Capital Choice equity release scheme is currently available in England, Wales and mainland Scotland on properties valued over £70,000. The maximum property value is £5 million, however any property over £1m should be referred for eligibility checks.

There is a minimum release of £15,000 and the Capital Choice Plan is available as a single lump sum lifetime mortgage basis. The maximum release of equity available is currently higher than most loans at £1.5 million.

The Capital Choice Plan starts at age 55 for single and joint applicants, with a maximum age limit of 95.

A flexible feature of this equity release plan is the Voluntary Partial Repayment Option which allows the homeowner to take control over the future balance. They can achieve this by making repayments of upto 10% each year of the original amount borrowed, with NO penalty.

For those looking for a 'get of jail card' from any residential interest-only mortgage, the More2Life Capital Choice Plan provides an excellent remortgage option. More2Life will allow monthly repayments to be made from inception of the plan. Therefore, if homeowners wish to maintain interest-only payments, the Capital Choice will provide this facility & on a monthly repayment basis if required.

The inclusion of a 'Protected Equity Guarantee' means a specific percentage of the property value can be protected away from the mortgage. This in turn allows a fixed percentage to then be passed onto your beneficiaries.

More2Life Capital Choice plan now offers a fixed early repayment charge system which levies a penalty of 5% if repaid in the first 5 years, 3% in the next 5 years & none thereafter.

An additional benefit courtesy of More2Life is their Downsizing Protection feature. Downsizing Protection allows the homeowner to repay the loan with NO penalty after 5 years when moving house.

*Cashbacks are subject to change, hence please call the team for the latest cashback deals

Please call 0800 678 5159 for further information or request your personalised Key Facts Illustration.