More 2 Life Flexi Choice Lite

Are You Considering the Flexi Choice Lite Scheme? What are the Eligibility Requirements, Features, Interest Rates & Scheme Options? Discover If This Equity Release Plan Is For You.

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More 2 Life Flexi Choice Lite Review

Flexi Choice Lite Key Details

Type Rate APR
More 2 Life Fixed 2.91% 3.08%

Scheme Incentives

  • Free Valuation
  • Free Application

Scheme Offers

  • Fixed Early Repayment Charges
  • Downsizing Repayment Charge Exemption
  • Fees Free Option*
More 2 Life Flexi Choice Lite

I think you’ll agree with me when I say:

It’s REALLY hard to choose the best equity release scheme with all the choices available.

Or is it?

Is the More 2 Life Flexi Choice Lite, equity release scheme the best?

Don’t let your equity release dream become a nightmare!

Luckily, we’re here to guide you on the in’s and out’s of equity release, as you deserve only the best.

However, not all plans are suited to each individual. You need to look for one that will serve your home, your lifestyle, and the reason why you’re considering equity release in the first place.

As leading experts in the field, we’ve delved into hours of research, unpacked all the equity release plans on the market (we’ve reviewed over 250 schemes!), and discovered the best in the business.

Could the More 2 Life Flexi Choice Lite be the right equity release plan for you?
We’re here to help you:
More 2 Life is one of the leading equity release providers on the market and might just be the answer you’ve been looking for.
Can you truly go wrong with More 2 Life?
Let’s find out!

What's Equity Release & How Does It Work?

We've summed up the most important information about the topic in this quick video.

An equity release mortgage is, in a nutshell, a loan plus interest that is paid back to the lender when the homeowner passes away or goes into permanent care. The homeowner’s family usually pays back the cash released, and the interest incurred, from the sale of the home in question.

Equity release is available for individuals or couples over 55, with the youngest homeowner’s age determining the amount of equity that can be released. It is important to note that some equity release schemes may require the homeowner to be 60 or older.

Learn More: What’s Equity Release & How Does It Work?

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Most popular reasons for releasing equity

Who Are More 2 Life?

More2Life is one of the UK’s leading lifetime mortgage lenders, and from its inception, they’ve been exclusively focused on equity release,1  assisting advisers, and prioritising the interests of their clients.
Learn more about the various More 2 Life equity release schemes..

Scheme Background

Are you 55+ and craving more flexibility in equity release lending? Choose More2Life equity release, the lending specialists that offers a range of bespoke lifetime mortgage deals to homeowners over the age of 55.

As the specialist lending arm of Key Retirement, More2Life uses external funding models to offer a range of range of lifetime mortgage plans, including the Tailored Choice and Flexi Choice plans.

Their Capital Choice Equity Release scheme is a Drawdown Lifetime Mortgage plan which aims to provide a low interest rate, yet higher loan-to-value ratios.

What’s more, the Capital Choice Drawdown Plan provides a greater level of flexibility than the simpler Capital Choice Lump Sum version. With this being a drawdown scheme, a flexible cash facility is provided which enables the homeowner to access future funds, as and when required.

Eligibility & Requirements

The More2Life Flexi Choice Drawdown Lite Plan is only accessible through a restricted group of professional intermediaries, one of which is Equity Release Supermarket. They are designed for people seeking a competitive interest rate, flexibility, and access to cash both immediately and throughout retirement, as needed.

The More2Life Flexi Choice Lite plan has one of the lowest drawdown interest rates available in the equity release market.

Minimum Property Valuation

The More2Life Flexi Choice Lite Plan has a minimum property valuation of £125000 and a maximum UK property value of £2 million in England (£1 million in Wales and mainland Scotland).

Property Location Requirements

The property must be the primary residence and must be in England, Wales, Mainland Scotland, or the Isle of Wight. When determining the value of flats and maisonettes, More2Life will only consider 85 percent of the valuation.

More2Life will take freehold properties in the United Kingdom as well as leasehold homes in England and Wales. More2Life’s leasehold requirement is set as a minimum of 90 years. Furthermore, the youngest applicant’s age plus the remaining duration of the lease must total a minimum of 160 years.

Single vs Joint

The More2Life Flexi Choice Drawdown Lite Plan is open to up to two applicants on a single and joint life basis. The minimum age at inception is 55, with a maximum age of 84 at admission (of the youngest).

Minimum Release

The Flexi Choice plan has a minimum borrowing of £10000 and a maximum discharge of £460000.

Scheme Features

More2Life’s Flexi Choice Lite lifetime mortgage is a drawdown equity release plan that seeks to offer a release of equity proportional to the amount the homeowner is expected to require over their lifetime. This can be taken as a lump sum payment or as a series of payments made as and when needed over the homeowner’s lifetime.

Downsizing Early Repayment Charge Exemption is included with the Flexi Choice equity release programs. Once the plan has been in place for 5 years, this provision becomes active if the homeowner decides to sell. If the property to which they want to relocate does not match More2Life’s financing standards, the loan can be returned with no penalty.

All More2Life Flexi Choice models have the industry-recognized ‘No Negative Equity Guarantee.’

Valuation Features

The Flexi Choice line of drawdown plans is now offering a generous free unlimited valuation, allowing for fee-free entrance on application.

Early Repayment Feature

More2Life and Rothesay’s Flexi Choice plans include information on early repayment costs. Early repayment costs (ERCs) are stipulated in the Flexi Choice Lite Drawdown plan, which implies that a predetermined percentage of the amount repaid will be levied within a certain period. These decrease from 10% in the first year to 2% of the outstanding debt in the ninth year. Following that, More2Life charges 1% in years 10-15, and then no early repayment fee after the 15th year.

Equity Release Council Status

As members of the Equity Release Council, More2Life ensures that any beneficiaries are not burdened by debt in excess of the property’s final worth.

Joint Application Features

The More2Life Flexi Choice Drawdown Lite Plan is open to up to two applicants on a single and joint life basis. The minimum age at inception is 55, with a maximum age of 84 at admission (of the youngest).

Scheme Options

Despite the fact that the Flexi Choice Lite program is effectively a roll-up lifetime mortgage, More2Life has incorporated a 10% Voluntary Payment Option. This permits the homeowner to make ad hoc repayments of 10% of the initial loan amount each year with NO penalty from the start. These optional payments may allow the plan to be completely repaid down to a zero amount.

Repayment Options

Voluntary repayments can assist in managing the plan’s future balance and can thus be handled on an interest-only or repayment basis, or simply ad hoc whenever the need arises. This might be useful for people who want to ensure that their beneficiaries get some sort of inheritance.

Inheritance Protection

The Guaranteed Inheritance Feature is another inheritance protection feature provided by the More2Life Flexi Choice Drawdown range. More2Life will automatically secure a percentage of the future selling value of the house based on the amount initially withdrawn at no additional cost to the homeowner. This will be updated as further funds are drawn down.

Application Fees

More 2 Life Lifetime Plan updates are still in the works. We will give an update soon.

Cashback Options

More 2 Life Lifetime Plan updates are still in the works. We will give an update soon.


*The Flexi Choice Drawdown Lite plan allows you to choose whether or not to pay the application fee.
Choosing the no-fees option will result in an increase in the interest rate.
The given rate is for the fee-free version, which includes an application charge.

Editor’s Rating: 4.85

More 2 Life's Other Equity Release Schemes

Are you looking for a specific equity release scheme?

These are some of the schemes offered by More 2 Life.

Not what you're looking for?

Have a look at all the equity release schemes available on the market, with our easy to use table!

Contributors: Nicola Date, Katherine Read
Reviewed by Francis Hui

Editorial Note: This content has been independently collected by the SovereignBoss advisor team and is offered on a non-advised basis. Sovereignboss may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.

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Most people are using equity release as a means of retaining the use of their house while also obtaining a lump sum or a steady stream of income. Get matched with an expert and check your eligibility for equity release options.

Use our free equity release calculator & see how much you can release today.

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Written by
Rachel Wait
Personal Finance Journalist

Rachel is an experienced finance journalist and editor with a particular interest in personal finance and consumer affairs. She has vast experience writing about money issues, property, insurance, and consumer affairs, and you’ll find her articles regularly featured in top media and newspaper publications.
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Written by
John Lawson
Founder SovereignBoss

John is passionate about education and has made it his life-long mission to assist UK citizens on their future financial options, with a specialist interest in equity release, and SovereignBoss is the natural extension of this passion.

Written by
Francis Hui
Senior Risk Manager

Having held various high-level roles across the industry, Francis is truly an expert in aiding UK citizens in their financial decisions and risk analysis. His unique insight and statistical knowledge make him the perfect person to help you take your financial future to the next level.
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Written by
Katherine Read
Financial Planning Reporter

Since joining the editorial team at SovereignBoss, Katherine has become focused on bringing transparency to finances and opportunities for those approaching retirement age. She writes on the topics of equity release, home reversion, and mortgages.

Written by
Nicola Date
Writer & Financial Journalist

Nicola is a financial writer for SovereignBoss and is passionate about the opportunities that equity release can open up for homeowners. Her extensive business experience and deep understanding of the industry means that she’s always up-to-date with the latest developments.

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