LiveMore Capital has expanded its distribution with its launch with L&C Mortgages.
LiveMore Capital provides Retirement Interest Only (RIO) mortgages for borrowers aged 55 and over by offering fixed rate products ranging from five years to lifetime, up to 75% LTV.
The lender says its affordability assessment means its 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 or who are enjoying income in retirement (pension and/or earned/self-employed) and can demonstrate ongoing affordability.
Its products are also geared towards older ‘mortgage prisoners’.
Alison Pallett (pictured), director of sales, said: “The opportunity to work with L&C Mortgages gives us a fantastic platform to showcase our products and proposition. Our market leading LTV of 75% coupled with our fresh look at affordability, really does mean that intermediaries will be able to offer more choice to their customers and help this underserved section of the market.”
David Hollingworth, associate director at L&C Mortgages, added: “The demand from older borrowers is only likely to increase over time and we feel that Retirement Interest Only is an important option for these customers.
“LiveMore’s innovative and flexible approach will add more choice for our advisers in finding the right solutions for our customers.”