More 2 Life is increasing the LTVs on its Tailored Choice Plan by up to 5.5 perentage points.

The Tailored Choice Plan, which launched last month, now offers LTVs of 55.5% for customers with medical conditions or lifestyle issues that affect their health.

More 2 Life believes individual underwriting of equity release plans is vital to secure the best possible LTVs for customers. Its underwriting process is designed to deliver quick decisions on whether clients qualify higher LTVs on health grounds.

Stuart Wilson, marketing director at More 2 Life, said: “Medical underwriting should be a common feature of the equity release mortgage market, just as it is for lifetime annuities. However it’s frustrating to see there are still many customers missing out on higher LTVs as their lifestyles are not being taken into consideration when applying for equity release.

“Underwriting customers gives us more confidence that we can provide the most appropriate loan advances and all it takes is 13 simple health and lifestyle questions to see if a customer qualifies.”

Currently, around 90% of More 2 Life’s deals are underwritten but it is estimated that in the lifetime mortgage market as a whole just 5% of products are underwritten.

The minimum age is 55 and the minimum property value is £60,000 with a maximum of £750,000. The minimum loan is £15,000 and minimum additional drawdown amounts are £5,000, and more 2 life will consider loans against a wider range of properties than considered by some other lenders.