The product has five and 10-year fixed rate options, with loan terms ranging from five to 35 years. It has a maximum loan to value of 85 per cent.
The lender launched into the market around two years ago with interest-only mortgages and has said that it wants to branch out and offer more choice to borrowers and brokers.
The firm said that there was demand in the over-50 bracket for C&I mortgage, with research from the company finding that 62 per cent of customers wants to be left with as much equity in their home as possible.
LiveMore said that this showed that most want to own their property outright and maximise the estate for inheritance purposes to pass onto family.
The lender said that this was especially the case for those aged 50 to 65, with UK Finance figures showed two times more C&I loans are taken out over interest-only in this area of the market.
LiveMore: ‘Excited to launch C&I’
Phil Quinn, head of intermediary sales at LiveMore Capital, said: “We always intended to expand our product range to include C&I and are excited that we can now launch into this new area of lending for us.
“Like our interest-only products, the C&I mortgage is available to borrowers with a range of criteria, including allowing for historical credit history and unusual property construction. We manually underwrite our applications and affordability is based on all income, now and in the future, such as investments and pensions.”
The lender temporarily suspended its fixed rate products following financial market dislocation after the mini Budget. It returned to the market with fixed rate deals in November.
LiveMore has also hired David Finlay as an executive consultant and member of senior executive team with a remit to drive growth and expand its product range.
