The lender, established in 2020, will continue to offer a full range of later life lending products and is now expanding to support borrowers aged 40 and over with complex mortgage needs before and during retirement.
The move reflects the broader shifts in borrowing trends, with around 40% of new mortgages now being extended beyond a borrower’s pension age, with people aged between 40 and 49 accounting for the majority of these cases.
Leon Diamond (pictured), LiveMore’s CEO, said: “40% of new mortgages now run beyond pension age, and the biggest group taking them out are people in their 40s. Yet many of these borrowers still struggle to access lending because traditional models don’t fairly assess complex finances. By the time people reach their 40s, life starts to get financially complicated.
“Divorce, self-employment, career changes, caring responsibilities and retirement planning can all affect how someone borrows. The industry often treats later life borrowing as a niche issue, but the reality is, this starts much earlier. What we’re seeing is a midlife mortgage crisis, not just a later life one.”
Data from the Office for National Statistics (ONS) shows that divorce rates peak for men and women in their 40s and that sandwich carers – those who care for both a young person and an older person – are between 45 and 64 in over half of cases. The age of the self-employed population in the UK is also in this bracket, with 48 years old being the average for this cohort, according to IPSE research.
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Diamond continued: “Later life lending is no longer niche, it’s becoming mainstream. More people are planning mortgages that run through, or even begin in, retirement. By expanding our proposition to include borrowers from age 40, we’re helping brokers support clients earlier, particularly those already thinking about how their mortgage will work throughout retirement.”
The change is supported by LiveMore’s Mortgage Matcher technology, which enables brokers to unlock maximum affordable borrowing for clients in minutes by generating accurate snapshots of current and future affordability. The system assesses over 250 LiveMore products across categories including capital and interest, interest-only, part and part, retirement interest-only (RIO), and equity release – helping brokers identify the most suitable solutions.
Diamond added: “I founded LiveMore to provide solutions for later life borrowers, but our ability to solve complex cases means we’re perfectly placed to help the 40-plus market as well. With pioneering technology, common-sense underwriting and a broad range of products, we’re helping brokers turn more NOs into YESs. Cases that might once have been difficult to place now have a home with LiveMore.”
Earlier this year, the firm’s Mortgage Matcher tool was integrated into Mortgage Advice Bureau’s (MAB’s) adviser system.
