LiveMore has expanded its mortgage offerings to include 100% debt consolidation for loans up to £1m, targeting borrowers aged 50 to 90 and above.
This option is now available across their range of maximum loan-to-value products, which include Standard Interest Only (70% LTV), Retirement Interest Only (75% LTV), and Standard Capital and Interest (85% LTV), without a loan-to-income cap.
The lender is also considering applicants with adverse credit histories, such as mortgage arrears, unsecured arrears, CCJs, and defaults.
They accept various income sources for eligibility, including self-employment, rental income, and most pension types, up to the age of 80.
Tim Wellard, product manager at LiveMore, commented on the new product: “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.”
