More2Life Equity Release And Lifetime Mortgage Review in 2024

Are You Considering More2Life as an Equity Release Provider? Find Out Why So Many People Trust More2Life to Release Cash From Their Homes and Why It Is Considered an Innovator in the Equity Release Market. Read On…
  • Last Updated: 02 Feb 2024
  • Fact Checked
  • Our team recently fact checked this article for accuracy. However, things do change, so please do your own research.


Francis Hui

Key Takeaways

  • More 2 Life equity release is a financial solution allowing homeowners over 55 to unlock tax-free cash from their property without having to sell or move out.
  • It works by securing a loan against the value of your home, which is repaid when the house is sold after you pass away or move into long-term care.
  • Benefits include a tax-free lump sum or smaller cash releases, no monthly repayments, and the possibility to stay in your home while accessing its equity.
  • Risks include a potential reduction in inheritance, possible impact on your tax position and welfare benefits, and the accumulating interest might exceed the property's value.
  • To apply, you can contact a specialist adviser who will guide you through the process, including discussing your needs, explaining the features and risks, and completing a detailed application.

Are you considering More2Life for equity release?

Did you know that over the last few years, the number of equity release products has nearly tripled?1

Competition in the equity release market has created more product choices than ever before, meaning finding an equity release deal to suit your specific needs should be more accessible. 

It also means more confusion. 

With so many options to choose from, how do you know which provider to choose?

In this article, we take a closer look at innovators in the lifetime mortgage field, More2Life equity release. 

In This Article, You Will Discover:

    Our equity release specialists at Every Investor have spent countless hours researching More2Life to help you in your equity release search.


    NOTEEvery Investor is an impartial and unconnected third-party information provider via this website, and the details replicated in this commentary represent the opinions of Every Investor only and may not reflect the views or opinions of More2Life. This article must not be interpreted as advice, nor is it a solicitation to conduct transactions in any financial product provided by More2Life.

    Who Is More2Life?

    More2Life is considered one of the top equity release providers in the UK, providing flexible plans to people over 55.

    Founded in 2008,2 More2Life has won numerous awards3 and developed a reputation for innovation and technology to help customers achieve the retirement they have always dreamed of.

    What Is Equity Release In The UK?

    Equity release in the UK enables homeowners above 55 to convert their home equity into liquid funds.

    It's a strategy for accessing your property's financial value without the need to sell.

    This approach defers loan repayment until the property is eventually sold, usually linked to significant life events like the homeowner's passing or entering long-term care.

    How Does More 2 Life Equity Release Work?

    The way More 2 Life equity release works is simple yet effective.

    You borrow a portion of your home's value and in return, the loan, along with accumulated interest, is repaid when you pass away or move into long-term care.

    Crucially, with More 2 Life's lifetime mortgages, you retain full home ownership and there are no required monthly repayments, providing peace of mind for homeowners looking for financial security in their retirement years.

    Why You Should Consider More2Life

    You should consider More2Life because it offers flexible lump sum and drawdown options.4

    Innovators in the lifetime mortgage market currently manage more than £4bln worth of lending and provides the widest choice of products and services to customers across the country. 

    Does More2Life Offer Equity Release?

    Yes, More2Life does offer equity release. 

    More2Life offers lifetime mortgage products for releasing equity from your house, approved by the Equity Release Council (ERC), to people over 55.5

    What Services Does More2Life Offer?

    The services that More2Life offers are:

    • Drawdown lifetime mortgages
    • Lump sum lifetime mortgages

    It has a wide range of equity release products designed to help people over 55 unlock the equity from their property in a way that is best suited to their circumstances.

    It has no additional product offerings.

    More2Life's Equity Release Schemes

    More2Life's equity release schemes are tailored lifetime mortgages that give homeowners some financial flexibility later in life.

    More2Life offers five different types of lifetime mortgages:

    • More2Life Flexi Plans
    • More2Life Tailored Plans
    • More2Life Maximum Choice Plans
    • More2Life Capital Plans
    • More2Life Prime Plans (temporarily unavailable)
    • More2Life Apex Plans

    More2Life's Equity Release Scheme Features

    More2Life's equity release scheme features that are available include early repayment charge exception, fixed early repayment charges, partial repayments from the get-go, and downsizing protection.

    A more in-depth look at their plans: 6

    • Flexi Lifetime Mortgage - It is available to people between 55 to 84 years old. The loan offers range from £10,000 to £1mln, available either as lump sum plans or with a drawdown facility. Different versions of the Flexi vary in the size of the loan-to-values it offers, the interest rate, and the minimum and maximum loan amount. You can tailor it to suit your needs.
    • Capital Lifetime Mortgage. This plan provides loans from £10,000 to £1.5mln and is available to people between 55 to 95 years old. There is an option to choose a smaller loan size to the value of your home with a lower interest rate. You can also make annual 10% capital repayments with no early repayment charges.
    • Tailored Lifetime Mortgage. The Tailored Lifetime Mortgage is specifically designed for clients with certain health conditions or lifestyle choices. It comes with increased LTVs, and competitive rates and can be taken as a lump sum or drawdown. It is available to those between 55 and 85.
    • Maxi Lifetime Mortgage. This plan features high LTVs and is available on properties valued between £120,000 and £2mln (in England). Lump sum or drawdown options are available to people over 55 years old.  
    • Prime Lifetime Mortgage. The Prime Lifetime Mortgage is a lump sum lifetime mortgage. It has very high LTVs, competitive rates, and up to 10% partial repayments. This plan is temporarily unavailable.
    • Apex Lifetime Mortgage. This plan is available to clients between 55 and 84 offering market-leading LTVs and the shortest Early Repayment Charge duration on the market.

    What Are More2Life's Equity Release Interest Rates?

    More2Life's equity release interest rates are fixed, meaning there will be no surprises later down the line. 

    The mortgage interest rate will depend on the amount of loan to value (LTV) you are taking but is usually between 5.20% to 6.30% (AER)*.

    As interest rates fluctuate, equity release mortgages are naturally influenced, which is why it is so important to speak to a professional who can advise you on when is the best time to apply for equity release.

    *While we regularly review our rates, these may have changed since our last update.

    What Are More2Life's Fees?

    More2Life's fees consist of a valuation fee which you need to pay on application and an arrangement fee which is usually included in the loan itself and paid off along with the mortgage.

    There will also be a small fee payable upon the transfer of your funds to your account.

    As with a standard mortgage, you will require a solicitor to oversee the legalities of your plan.

    The fees associated with their services are paid directly to them.

    Additional fees may be applicable in the event of you making changes to your plan or repaying the loan in full before the term ends.

    Does More2Life Have an Equity Release Calculator?

    Yes, More2Life has a range of equity release calculators to help you select the right mortgage, but nothing beats the personal touch you get when dealing with our advisors. 4

    Use our free equity release calculator to obtain an approximation of how much equity you could be able to release, then contact our advisors to help you find the best deal.

    What Are the Advantages and Disadvantages of More2Life

    The advantages and disadvantages of More2Life are that it has a wide range of flexible plans to choose from, but these plans mainly focus on lifetime mortgages.

    More2Life Pros

    More2Life’s pros include:

    • More2Life plans are approved by the ERC.
    • It has various online tools, such as an Inheritance Protection calculator, LTV calculator, and a Partial Payment calculator.
    • Their Fastpath online portal minimises administration time.
    • It has a wide range of products you can tailor to suit your requirements.
    • It has high LTVs and competitive interest rates.

    More2Life Cons

    More2Life’s cons include:

    • You need first to seek professional advice before you can apply.
    • More2Life is relatively new to the industry.
    • It focuses mainly on lifetime mortgages.
    • Equity Release may not be suitable for everyone, which is why your advisor will ask you to consider other options before proceeding.
    • Equity Release could impact your entitlement to means-tested benefits now or in the future.

    How Did We Review the Information on More2Life?

    We reviewed the information on More2Life by looking at it's track record, the flexibility of the packages it offers, and comparing it's rates and fees against other providers in the field.

     NOTE: This article is an unaffiliated, third-party, independent review of More2Life.

    Look at their online reviews below:

    More2Life Customer Reviews

    More2Life Reviews on

    More2Life Complaints

    If you have a complaint about More2Life's services, you can contact their Compliance Officer at:

    More2Life Limited, Baines House, 4, Midgery Court, Fulwood, Preston, PR2 9ZH.

    They will also provide a leaflet detailing the complete More2Life complaints and appeals process on request.

    More2Life FCA Details

    FCA Address

    Baines House, 4, Midgery Court, Fulwood, Preston, Lancashire, PR2 9ZH.

    Trading Names

    more 2 life Ltd

    FCA Permitted Services

    Mortgages and Home Finance


    • Financial Conduct Authority (FCA)5

    Registration Numbers

    • FCA Ref Number: 459669
    • Companies House Number: 5390268

    FCA and Companies House Link

    More2Life Contact Number

    03454 150 150

    Common Questions

    What Is More 2 Life Equity Release?

    How Does More 2 Life Equity Release Work?

    What Are the Benefits of More 2 Life Equity Release?

    Are There Any Risks Involved in More 2 Life Equity Release?

    How Can I Apply for More 2 Life Equity Release?

    Is More2Life a Member of the Equity Release Council?

    Who Owns More2Life?

    Where Can I Find More2Life's Job Openings?

    Does More2Life Offer Equity Release?

    Is More2Life's Equity Release Safe?

    In Conclusion

    More2Life has a great range of lifetime mortgages available with loads of flexibility.

    If you are interested in a More2Life lifetime mortgage products, speak to an equity release advisor or broker who can help you understand exactly what it entails before making any decisions.

    The features mentioned and the amounts raised, are subject to the lender’s criteria, terms, and conditions. These may take into account the age, health and lifestyle factors in order to provide an enhanced amount. To understand the features and risks, ask for a personalised illustration.

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