Standard Living Housing Financing Exits Lifetime Market for More2Life Transfers – Mortgage Strategy
Standard Life Home Finance will exit the lifetime mortgage market, allowing competitor More2Life to integrate its Horizon Equity release scope into its own business.
Horizon Lifetime mortgage scope covers the Horizont program – free and charged premiums, as well as a 15-year repayment period for Horizon interest rewards, for borrowers who promise to set monthly interest payments.
More2Life said the decision allowed the group to “go into a single brand structure while retaining product breadth.”
Standard Life Home Finance said it will no longer offer new lifetime mortgages starting July 6, but all its existing customer loans will continue to be managed and served by the business.
Total annual lifetime loans fell 11.6% in 2024 to £2.3 billion, from £2.6 billion in the previous year, according to the Stock Release Committee.
“This is an important milestone for More2Life, not only strengthening our market leadership, but also reaffirming our long-term commitment to the later lifelong lending division.
“At a time when operational efficiency and clarity are critical, we believe bringing the Horizon range to More2Life will enhance consultant experience and market visibility.
“This move means we have a simplified, stronger proposition where consultants can continue to access great horizon products without interruptions and that customers will not see changes in the great service they are used to.
“We will continue to invest heavily in further product innovation, consultant tools and excellent services and support the market in delivering the solutions needed by growing homeowners who need and need to gain benefits in their homes.”
