The credit facility from Citi will support the lender's expanded product offering
Later life lender LiveMore Capital has secured a credit facility of up to £250 million from Citi, taking total funding raised by the lender since launch to nearly £600 million.
Launched in 2020 as a mortgage lender for the 50- to 90-plus age segment, LiveMore said the new financing would enable it to increase loan originations and grow its portfolio.
The credit facility will also support LiveMore’s expanded product offering including retirement interest-only mortgages, term mortgages both interest-only and repayment, as well as the soon to be launched equity release offering.
We are super proud of our broader product range across Capital & Interest as well as Interest Only 🎯
— LiveMore Mortgages (@LiveMoreCapital) January 26, 2023
We hope you enjoy our our new look, and of course the same premium service🎉
We are more motivated than ever to be delivering amazing service and achieving incredible results🏡 pic.twitter.com/lIFEo33Ap4
“We are thrilled to receive this credit facility from Citi, which will support our growth and expanded product offering, so we can continue to serve the often forgotten 50 to 90-plus segment of the market,” Leon Diamond (pictured), chief executive at LiveMore, commented. “As a result, we can help mobilise the industry around our mission to help 50- to 90-plus year-old customers have genuine control of their financial lives.
“LiveMore is on track to deliver over £1 billion of mortgage lending to the 50 to 90-plus age demographic in the coming years. We have listened to the regulators and our customers, and with the support of this credit facility, we can continue to provide options for later life borrowers underserved by high street lenders.”
The specialist mortgage provider has also recently rebranded and introduced a new strapline, logo, and identity in its aim to deliver strong messaging that reflects its new and broader product range.
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