Advisers with existing Maxi cases can request the new, shorter ERC term for their clients. This update follows the recent introduction of the Maxi Zero ERC plan, the first later-life lending product in the market with no ERCs.

“Earlier this year, we conducted research among over 300 advisers active in the later life lending space, asking them how we could improve our plans,” said Ben Waugh (pictured), managing director of more2life. “Eighty-five percent of respondents said they wanted more flexibility from ERCs, and we believe it’s important to listen and act on what advisers and their clients want.

“This is why we’ve been able to reduce our ERCs on the Maxi range from 10 to seven years, plus, of course, we’ve also been able to launch the first-of-its-kind Maxi Zero ERC product last month.”

Waugh also emphasised the lender’s commitment to product development, adding that more product announcements would be made later this year.

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