Its specialist products are now available through the mortgage packager
Over-50s lender LiveMore has expanded its distribution by making its lending solutions for the 50- to 90-plus age group available through specialist mortgage packager TFC Homeloans.
Brokers using TFC Homeloans can submit cases on 1APP from DIP to completion, for all lenders and products.
LiveMore currently offers retirement interest-only mortgages (RIOs) and term interest-only mortgages (TIOs) for borrowers over the age of 50, who are underserved by high street lenders.
“The flexibility of the way LiveMore handles affordability is refreshing in today’s market as it considers all income, not just salary,” Wayne Smethurst, managing director at TFC Homeloans, said.
“LiveMore offers wide ranging criteria, its pricing is fair, and its recent shortening of early repayment charges makes its longer-term fixes attractive.”
The lender’s fixed rates can be taken out for five, seven, 10, or 20 years and with RIO, the mortgage can be fixed for life.
“We have only been in the mortgage market for two years but we’re really gaining traction with our distribution,” Leon Diamond, chief executive at LiveMore, said.
“It’s important for us to have a range of distribution partners, particularly specialist packagers like TFC Homeloans who understand how underserved the 50- to 90+ mortgage market is. We can’t wait to get started working with TFC Homeloans.”
