More2life has launched an automatic redemptions service for brokers, as well as a temporary service promotion.
The later life lender says its redemption service, gives advisers 24/7 access to an online form that allows them to request product figures and statements.
This comes with “a 48-hour turnaround, provided the form is fully completed. As a result, the process can unlock further time savings, enabling advisers to see if a further advance is possible for their clients”.
The firm also unveils a new service promise, available through Air, which will run for four months.
It says that if one of its customer excellence service conditions is left unmet, customers will be offered £1,000 in compensation.
The promotion covers all more2life products, apart from its new Flexi Payment Term Lifetime Mortgage offer.
The conditions of the promotion include:
- An ‘agreement in principle’ made by 5pm the following day once the enquiry has been submitted to the lender — notwithstanding the valuation results, if they flag complexity and more work is required then the case will be excluded from the service promise
- Application to offer in ten days
- Completion is cancelled on the day
More2life managing director Ben Waugh says: “As the later life lending market responds to regulatory change and the rapid expansion of innovative products, our clients deserve a streamlined service with airtight assurances.
“Our automatic redemptions service, supported by our service promise, will ensure advisers and customers can enjoy the best service.”
The lender adds that the promotion is set at a maximum paid per case of £1,000, available on any case with a loan size of more than £200,000.
