Equity release and later life distributor Air Mortgage Club has added specialist mortgage lender LiveMore Capital to its panel.
Members of Air Mortgage Club will now be able to access LiveMore’s range of retirement interest-only (RIO) mortgage solutions for the over-55s.
The fixed-rate products – including a lifetime fix – come with a maximum loan-to-value (LTV) of 75%, accept Grade 1/2/2* properties and are available for remortgage applications with a purchase to follow.
LiveMore’s offering is particularly relevant for borrowers who are: nearing the end of their existing lender’s mortgage term and do not have a repayment plan in place; enjoying income in retirement that can demonstrate ongoing affordability; or trapped in a lender’s open or closed back book – an older ‘mortgage prisoner’.
Stuart Wilson, chief executive officer at Air Group, said: “We are delighted to see the arrival of LiveMore to the Air offering.
“Their fresh approach to understanding the balance between sensible lending flexibility and older borrowers’ circumstances means a great new product range for the consumer market and our 6,000 Air Mortgage Club members.
“This sector is changing, as are consumer profiles, so constant innovation is going to drive our sector forward, and everyone at Air Group is looking forward to progressing this relationship with the LiveMore team.”
Alison Pallett, director of sales at LiveMore Capital, said: “We know there is a real need for more choice and solutions for the over-55’s looking for wider options into, and during, retirement.
“Launching with Air Mortgage Club is a natural evolution for us, given their later life lending credentials and access to this market via their award-winning sourcing system.
“As we extend our roll out, we’d love to hear from any intermediaries interested in working with us.”