Brokers who call the hotline will be able to speak with a LiveMore underwriter, who will be available to answer any questions, either before or during the application process – helping to speed up the process and give brokers greater certainty as to the range of options available.
Complex cases soar
The lender, which is focused on later life lending, announced in March that it was expanding to support borrowers aged 40 and over with complex mortgage needs before and during retirement. CEO Leon Diamond (pictured) said it was reacting to a “midlife mortgage crisis” and that “40% of new mortgages now run beyond pension age, and the biggest group taking them out are people in their 40s”.
He said the hotline – focused on non-equity release cases – would tackle this growing complexity, which leads to brokers spending increasing time packaging uncertain cases, only to face issues with lenders unwilling to engage.
Diamond added: “For many clients, the market can feel like a wall of ‘no’s’ – too complex, too risky, too much work.
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“We’ve developed our underwriting clinic to challenge that mindset. Instead of asking brokers to guess, we give them clarity from the outset. We’ve seen cases where borrowing capacity has significantly increased because we took the time to understand the full picture early on.”
He urged brokers to challenge LiveMore to help when faced with a difficult case.
“Don’t assume you already know the answer to a difficult case – challenge us. Our underwriters are regularly unlocking borrowing that brokers didn’t think was on the table.
“If you’ve been sitting on a case that feels complex, unusual or hard to call, this is exactly what the clinic is for,” he said.
Brokers with applicable non-equity release cases can book an Underwriting Hero Hotline appointment via the LiveMore website.
