Later life lender LiveMore will now offer 100 per cent debt consolidation on mortgages up to £1m to help “ease pressure for older borrowers”.
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.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
