quity release provide More 2 Life has a 9.3% market share after its first year of operation, according to third quarter figures from trade body SHIP.

Its Q3 growth was nearly a third up on the 7.2% new business share in the second quarter.

It has now nearly trebled its share of new business from the 3.5% market share it achieved in the last three months of 2010 which was its first full quarter of operation.

Around 60% of customers are qualifying for the highest level of LTVs ranging from 34% at age 65 to 44% at age 75 as brokers focus on health issues in their equity release fact find.

More 2 Life is forecasting a rise in remortgaging in the equity release market as customers take advantage of gilt-backed redemption charges which are currently based on historically low rates.

Jon King, managing director of More 2 Life, said: “The success of enhanced equity release demonstrates the need for innovation in the market.