Livemore to offer 100 per cent debt consolidation on loans up to £1m

Livemore to offer 100 per cent debt consolidation on loans up to £1m

LiveMore said that the debt consolidation feature was available up to its maximum loan to value (LTV) across its mortgage products.

This includes standard interest-only at 70 per cent LTV, retirement interest-only (RIO) at 75 per cent LTV and standard capital and interest at 85 per cent LTV. There is no loan-to-income (LTI) cap in place.

The lender said that it would look at adverse credit, including mortgage and unsecured arrears as well as county court judgements (CCJs) and defaults.

LiveMore will also accept earned income up to 80 years old, including self-employed one-year accounts, and rental income and pension types.

Tim Wellard, product manager at LiveMore, said: “This new debt consolidation feature should help ease the pressure for many older borrowers, especially as the cost of living continues to bite and the number of mortgage prisoners escalates.

“LiveMore is founded on the belief that everyone who can afford a mortgage should be able to live and remain in their own homes for as long as they want to – whether they’re 53 or 103 years old.”

LiveMore has been growing its team, hiring Les Pick as its intermediary head and bringing on Nicola Palmer as a key account manager for the South West and Lisa Kemp as a telephone business development manager (BDM).

The firm has also brought out a cashback mortgage for over-50s, widened its property criteria and lowered rates by up to 0.71 per cent.