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LiveMore ups standard mortgage LTV to 75%

LiveMore ups standard mortgage LTV to 75%
Shekina Tuahene
Written By:
Posted:
November 26, 2024
Updated:
November 26, 2024

LiveMore has increased the maximum loan to value (LTV) limit on its standard interest-only mortgages from 70% to 75%.

The lender said it would maintain its existing rates, meaning borrowers getting a 75% LTV mortgage can access the same rates available at 70% LTV. 

The increase applies to LiveMore 1, 2 and 3 standard interest-only products and brings the maximum in line with its retirement interest-only (RIO) mortgages. 

The lender said the change would also widen its customer base by making mortgages available to a wider range of borrowers aged 50 and over. This also forms part of LiveMore’s strategy to cater to under-served borrowers. 

This comes after the lender removed upper age limits from its criteria and lowered the minimum deposit or equity required. 

LiveMore will lend from £20,000 to £1.5 up to 75% LTV or £2.5m up to 60% LTV. 

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Samantha Ward (pictured), head of proposition strategy and development at LiveMore, said: “Regardless of age, we are committed to finding a variety of solutions for a wide range of borrowers. For too long, the over 50s have been treated as second-class citizens where finance is concerned.  

“In fact, many people are more than financially capable of maintaining payments on their mortgage well into retirement, so we at LiveMore are finding ways to enable them to access the funding they need.”   

She added: “We are finding more than ever that borrowers are reviewing their financial circumstances to help support them or their families in later life. Borrowers may want to help their children or grandchildren to get onto the property ladder for example, perhaps release funds for home improvements or plan for inheritance tax, or maybe just improve their standard of living – and our mortgages enable them to do that.”