The automated DIP process, available for its entire product range, gives an immediate response on declared information and does a soft credit search simultaneously.
This will offer speed and certainty to brokers and offer an opportunity to give “tailored service” to customers, the lender said, bringing immediate decisions across its entire product range.
The system can also show maximum borrowing amount for different products, accounting for income and circumstances such as unusual property construction, debt consolidation and adverse credit.
The system has a more “flexible architecture” with easy-to-use affordability calculations and ESIS forms. Full mortgage applications can be submitted and no rekeying is needed.
The lender was launched in 2020 and previously outsourced its technology to a third-party provider. The firm added that having made “significant inroads” into the later life lending market, the next phase was for it to build its own technology.
The company recently added equity release to its proposition, sitting alongside its retirement interest-only (RIO) mortgages, interest-only fixed term mortgage products and capital and interest fixed term mortgages.
Leon Diamond (pictured), CEO and founder of LiveMore, said: “Having built up LiveMore into a successful, highly capable and competitive lender shaking up the 50-90 plus mortgage space, it made perfect sense for us to bring our technology in-house.
“The timing was right and our expert technology team has been busy creating this state-of-the art DIP and origination portal.”
He added “Going forward, we have a roadmap of improvements so the next stage will be working on new functionality to enrich the broker journey even more.”
Upcoming improvements include counter-offer capability and an affordability sandbox. The counter-offer will automatically offer a potential alternative if one product does not fit and the affordability sandbox is experimenting with income and assets to maximise affordability for clients.
