Equity release provider More 2 Life has increased its maximum loan-to-value (LTV) limits.

Maximum LTVs have been raised to 55%. More 2 Life claims the gap between a typical equity release plan at age 60 and enhanced equity release is now 9%, with customers who qualify for enhanced deals able to withdraw a maximum 29%

The increase in LTVs is across all age ranges, starting from 24% at age 55 and rising to 55% at age 86

More 2 Life says the move follows strong demand for its products. It estimates around 25% of equity release customers would qualify for enhanced terms

Jon King, managing director of More 2 Life, said: “Enhanced equity release is showing strong demand and we are committed to maintaining our market-leading role having created the market with our launch last year