more 2 life Lifetime Mortgage.

more 2 life Lifetime mortgage


The more 2 life Lifetime Mortgage has the option of a cash lump sum or a drawdown to allow you to take further lump sums as and when you need them.

Minimum age – 55

Maximum age – no maximum 

Available to home owners over the age of 55 with no maximum age.

Cashback available – Yes

Up to 5% cashback available subject to age and product selection.

Drawdown available – Yes 

Available with a minimum withdrawal of £5,000 per withdrawal.

Medically enhanced plans available – Yes

Available for a range of medical or lifestyle issues.

Inheritance Protection available – Yes

Inheritance protection is automatically included where the maximum loan is not taken.

Voluntary overpayments – Yes

Payments of up to 10% of the amount borrowed can be made without penalty.  Minimum payments of £50 can be made.

Early repayment charges 

Fixed early repayment charges for 10 years:

5% years 1 to 5

3% years 6 – 10

0% after year 11


Fixed early repayment charges for 10 years:

10% in year 1

9% in year 2

8% in year 3

7% in year 4

6% in year 5

5% in year 6

4% in year 7

3% in year 8

2% in year 9

1% in years 10 to 15


A Lifetime Mortgage allows you to release a tax free cash lump from your home to spend and use as and how you wish.  There are normally no repayments to make to the loan with the interest being added to the loan each month.  The interest rate is normally fixed for the life of the loan and the loan is only repayable when the property is sold, which normally happens when you die or go in to long term care.  In the case of joint applicants this normally happens when the second applicant dies or goes in to long term care.

Please contact us to today for more information on the more 2 life Lifetime Mortgage.  We are completely independent Equity Release advisers and will recommend a plan from a provider that suits you best.  We will compare all providers in the Equity Release market to ensure the plan we recommend meets your personal requirements.