The Mortgage Matcher aims to simplify the process of finding a later life mortgage by creating a maximum borrowing calculation based on a person’s income and expenditure.
The tool is able to filter over 250 LiveMore products across numerous categories, as well as considering a more expansive range of income categories, including rental income, pensions and savings, with no minimum income requirement.
The move to integrate this tool into MAB’s existing technology will mean the system can rapidly analyse a potential borrower’s affordability and generate recommendations for suitable products.
The firms say this means mortgage advisers will enjoy an easy-to-use journey, and minimal additional criteria steps are required.
Darren Cunliffe, LiveMore’s head of intermediary sales, said: “Crucially, our Mortgage Matcher doesn’t just assess affordability or point advisers towards a product type and leave them to join the dots. It actively surfaces lending solutions that many brokers wouldn’t expect to be achievable, based on each customer’s individual circumstances.
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“As a result, MAB advisers get an instant, clear view of what is genuinely possible for their client, helping them unlock options that might otherwise be overlooked and dramatically speeding up the journey from enquiry to application.”
Steve Humphries, proposition director at MAB, added: “By integrating the Mortgage Matcher into our technology, we’ve been able to simplify the process for our later life lending advisers dramatically, helping them to have better conversations with their customers about their available options.
“We always want to give our customers the most suitable outcome, so LiveMore’s focus on affordability really struck a chord with us. Going forward, the Mortgage Matcher will help us to ensure we’re considering all options and providing the highest quality advice for each customer’s circumstances.”
Leon Diamond, LiveMore’s CEO, said: “I set up LiveMore with a simple aim: to challenge the status quo for people approaching retirement and those already retired who were being overlooked by mainstream criteria.
“Our LiveMore Mortgage Matcher demonstrates what is possible, and its integration with MAB means that we are now helping even more people reaching retirement age to find a financial solution that works for them.”
