Specialist Retirement Interest Only Mortgage (RIOM) lender LiveMore is rolling out its proposition more widely after completing its first applications, offers and completions.
LiveMore offers products for borrowers aged 55 or over where they are nearing the end of their existing lenders mortgage term but do not have an adequate repayment plan in place and can demonstrate ongoing affordability.
It also offers serviced interest as opposed to a compounding roll up product and products to help those trapped in a lender’s open or closed back book (so-called mortgage prisoners).
Alison Pallett (pictured), director of sales at LiveMore, said: “We have passed through the significant milestones of first applications, offers and now completions and from this solid base we are rolling out our proposition more widely – we’d love to hear from any intermediaries interested in working with us.
“We have listened closely to intermediaries’ needs and have worked hard to design products and criteria that support them; for example we can accept life insurance to bridge the affordability gap upon the death of the first borrower, something many intermediaries have told us is a historical problem in the RIOM space.”