MortgagesApr 16 2012

More 2 Life adds to management team

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ByDonia O’Loughlin

Equity release lender More 2 Life has appointed Aaron Conlon as operations manager responsible for working with potential new lenders on systems development and project management on planned new product launches.

Mr Conlon joins from specialist financial outsourcer HML where he was promoted to operations manager after a seven-year career at the group.

Jon King, managing director of More 2 Life, said: “We are focused on the next stage of our development after successfully establishing enhanced equity release as a major part of the market and Aaron will play a major role in our plans.

“More 2 Life’s commitment to innovation and the growth prospects for the equity release market as a whole makes this an exciting place to work.”

More 2 Life said it has recently expanded its product range by moving to individualised underwriting as well as cutting rates by 0.2 per cent and increasing maximum loan-to-value deals by up to 11 per cent.

Customers are now assessed for different levels of medical and lifestyle impairment so that those retiring early on ill health grounds can apply for an ‘enhanced’ loan at a higher loan-to-value ratio.

Since launch in June 2010 sales of enhanced equity have climbed from zero to around 13 per cent of the equity release market and More 2 Life believes around one in four equity release customers could benefit from enhanced equity release.