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Equity release lender completes c.£1bn in new loans

13 January 2020

Equity release lender more2life has reached £3 billion loans under management, after enjoying a record year in 2019.

The lender completed almost £1 billion of new loans last year and launched a series of new equity release plans including its fifth product portfolio, Prime Choice, with its fifth funder.

Dave Harris, CEO, more2life (pictured), described its loans under management as a “fantastic milestone.”

He said: “To have achieved this goal within a year of reaching £2bn in lending is a phenomenal accomplishment, especially given that after years of double digit growth the market has started to slow.

“More is yet to come – the retirement lending market is barely scratching the surface of the increasing demand from consumers. As the industry evolves, we are committed to launching a series of new initiatives and driving product innovation even further, as we continue to work with advisers to ensure unlocking equity is seen as a viable option when discussing retirement planning with clients.

“Next year looks certain to be an exciting time for the equity release sector and more2life is committed to being at the forefront of pushing the industry forward.”

In 2019, the lender developed and launched five new lifetime mortgages; Prime Choice, Prime Plus Lump Sum, Tailored Plus, Maximum Choice Lite and Capital Choice Lite.

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