Air Mortgage Club has announced the addition of specialist mortgage lender, LiveMore Capital, to its panel.
Members of Air Mortgage Club can now able to access LiveMore’s range of retirement interest-only mortgage (RIO) solutions for the over-55s.
The fixed-rate products – including a lifetime fix – come with a maximum LTV of 75%, are flexible around the property type accepting Grade 1/2/2 properties and are available for remortgage applications today with a purchase to follow.
LiveMore says its affordability assessment means this 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.
It is also suitable for those enjoying income in retirement (pension and/or earned/self-employed) that can demonstrate ongoing affordability as well as those trapped in a lender’s open or closed back book – an older ‘mortgage prisoner’.
Stuart Wilson, CEO 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 (pictured), director of sales at LiveMore Capital, added: “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.”