The equity release lender believes the strong market share was driven by advisers focusing on improving payouts for customers through increased use of enhanced equity release.
It also said that it was confident that market share would continue to grow following its launch at the end of March of higher LTVs of up to 45.1% for 65-year-olds compared with 34% previously.
More 2 Life’s market share was achieved against a background of a 10% rise in advances across the equity release market as a whole to £199.1 million in the first quarter of 2012, based on figures from SHIP.
Total advances for lump sum mortgages were £63.3m during the three months with More 2 Life taking around 14% of the total.
Advisers accounted for 91% of all lump sum sales and More 2 Life believed its sales were being boosted by the dominance of advisers in the equity release market.
Jon King, managing director of More 2 Life, said: “A combination of innovation and intermediaries is driving the equity release market and that is reflected in our strong market share.
“Enhanced equity release delivers higher lump sums through its more individualised underwriting and advisers are focusing on that when looking at the best deals for customers.”
More 2 Life also added that it was now assessing customers for different levels of medical and lifestyle impairment taking into account factors such as weight, smoking, general health and early retirement on ill-health grounds.
