TMA adds more2life to growing Later Life Lending panel
Members of the Club will have immediate access to the lender’s range of lifetime mortgages, including its recently launched Tailored Plus product. This was an update of more2life’s original Tailored Choice product, now offering borrowers drawdown facilities from £2,000 with the option to make flexible partial repayments.
Additional product highlights include:
• Fixed early repayment charges (ERCs)
• A range of LTVs, with the maximum sitting at 56%
• Loans available from £10,000 to £1.85m with cashback options
• A mixture of drawdown and lump sum facilities
• Downsizing and inheritance protection
• Access to more2life’s suite of online tools including its portal, fastpath, which provides advisers with a completely paperless application process from start to completion
• Simple underwriting process
Today’s announcement hails the latest expansion of TMA’s later life lending proposition, having welcomed OneFamily and LV= to its equity release panel earlier this year.
Lisa Martin, Development Director at TMA, commented: “As more of our members step into the equity release space, we are committed to providing them with access to the best lending solutions for their customers – which is exactly why we’ve decided to launch with more2life. With the flexibility and choice that comes with more2life’s range of products, more of our advisers can begin to reap the benefits that later life lending brings for them and their clients, allowing their business to prosper further.
“This is just one of many exciting changes that we are making to our equity release panel over the course of 2019, so keep your eyes peeled for more enhancements over the coming months!”
Dave Harris, CEO at more2life, added: “Nearly two-thirds of all property wealth is currently held by the over 55s – a generation who has bigger aspirations for their retirements than their parents but often less financial resources. This makes it more important than ever to work with organisations such as TMA to help advisers support the growing number of older homeowners who want to use equity release to its full potential to meet these needs. We look forward to working closely with TMA by providing its growing adviser community with a suite of later life lending solutions and supporting them in their conversations with older borrowers.”
For further information please contact:
Name: Eve Frayling
Telephone: 07827 995180
E-mail: [email protected]
Notes to Editors
About TMA Club
TMA Club is part of the LSL Property Services plc (LSL) group of companies and is dedicated to Directly Authorised Intermediaries offering mortgage, protection and general insurance products, as well as compliance support and ancillary services. It has been in operation since 1999 and was acquired by LSL in July 2011. TMA is one of the largest mortgage and protection distributors in the UK.
TMA has a membership of over 3,000 advisers; it offers a profit share scheme and some of the best procuration fees and commission rates in the market. It has very close links with lenders and protection providers and offers a number of exclusive products. It works hard to campaign on behalf of DAs and prides itself on being the club that gives something back to its members. This includes:
• Comprehensive lender panel from across the market with access to exclusive lenders and products
• The same or better procuration fees than any other Mortgage Club
• 24 hour payment of procuration fees available for selected lenders
• Access to a specialist mortgage desk for support with lender criteria
• Exclusive protection & general insurance panel offering market leading commissions
• Access to training support and business development
• Compliance support proposition available
• TMA’s aim is to be the best mortgage club in the UK
Part of Key Group, more2life is one of the UK’s largest equity release lenders with application levels reaching more than £1billion in 2018.
They offer a range of innovative equity release products with features that are tailored to help customers access their housing equity in a way which is best suited to their individual circumstances.
Constantly pushing for the later life market to evolve, more2life believes that a strong vibrant adviser community is vital to growing the sector and ensuring more older customers can access their equity in a safe sustainable manner.
A committed advice advocate, more2life supports advisers with a range of tools, on demand webinars and technological advancements focused on helping them to better service the evolving needs of their clients.