The lender has also lowered the minimum age it will accept for retirement interest-only (RIO) mortgage from 55 to 50.
This means all of Livemore’s products can now be accessed by people aged 50 and over.
Phil Quinn (pictured), head of intermediary sales at Livemore Capital, said: “We’re excited to start 2023 broadening both our product and age range for customers giving them more choice.
“The zero product fee and the free standard valuation will appeal to those customers who want to minimise upfront fees, especially given the current high cost of living.”
He added: “By lowering our minimum age for RIOs, more people can take advantage of a mortgage to meet their needs.
“This is just the beginning of a number of changes we will be making as we have new products in the pipeline which will widen our offering for the benefit of brokers and their clients.”
Partnership with Amicable
The lender also announced its partnership with online divorce services company Amicable.
The two companies will collaborate on content highlighting the issues divorcing couples face when trying to fund their lifestyles following the breakdown of a marriage.
Livemore and Amicable said they recognised more needed to be done to change the narratives around divorce and separation.
The content will focus on how people can rebuild their lives and seek support following a separation. It will include website content, social media posts, features on The Divorce Podcast, regular emails with tips and advice, and signposting to Livemore or Amicable’s respective websites and resources.
A referral partnership may also be explored in the future.
Kate Daly, co-founder of Amicable, said: “We are very pleased to be partnering with a company of such expertise and standing. Livemore understands the financial needs of over 50s, and offers a fair and personalised service to a demographic whose needs are often neglected. We are excited to work together to bring more attention to the emotional and financial needs of the over 50s.”
Leon Diamond, CEO of Livemore, added: “Amicable offers expert divorce and separation services and we very much look forward to working together. We are seeing more divorcees wanting to access mortgage finance, so our new partnership with amicable will make it a little easier for people in this situation. Divorce is a stressful time and we want to ensure the monetary and emotional challenges faced by those aged 50 to 90+ are addressed and overcome.”
