More2life has launched an “innovative” automatic redemptions service, which will be bolstered by a limited-time-only service promise.
Under the new automatic redemption service, advisers will gain 24/7 access to an online form, allowing them to request figures and statements at their convenience.
More2life managing director, Ban Waugh, said: “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.”
Waugh added the later life lender’s automatic redemption service, supported by its service promise, will ensure advisers and customers have the best service.
“At More2life, we are committed to setting the standard for customer service excellence, and today’s announcement is yet another step in our journey to deliver on our pledge,” he added.
In addition, More2life committed to a 48-hour turnaround, provided the form is fully completed.
As a result, the process can “unlock further time savings”, which enables advisers to see if a further advance is possible for their clients.
More2life has also unveiled a new service promise, available through Air, which will run for four months.
The proposition will cover all More2life product lines and, if one of the customer excellence service conditions is left unmet, customers will be offered £1,000 in compensation.
More2life outlined the conditions affecting this promise, which includes requiring an ‘agreement in principle’ made by 5pm the following day once the enquiry has been submitted to the lender, an application to offer in 10 days, and completion is cancelled on the day.
The maximum to be paid per case is £1,000 and the promise will be available on any case with a loan size of more than £200,000, although the new Flexi Payment Term Lifetime Mortgage product will not be included in the current offering.
tom.dunstan@ft.com
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