LiveMore, a mortgage lender for individuals aged 50 to 90-plus, has estimated that it will have achieved a 300% increase in revenue and a 100% increase in lending by the end of 2024.
The four-year-old company recently relocated to new offices in central London.
In June, LiveMore raised £208m through its first securitisation, becoming the UK’s first lender to securitise retirement interest-only (RIO) mortgages.
It also developed the LiveMore Mortgage Matcher® in-house, an AI-driven tool to help find suitable products for clients.
This tool reviews more than 200 products, including standard interest-only, standard capital and repayment, RIO, and lifetime (equity release) mortgages.
Leon Diamond (pictured), founder and CEO of LiveMore, said: “Everything we do is to reduce inequality and serve the social purpose of lending to people aged 50 to 90 plus, who are typically underserved by other lenders.
“We are founded on the belief that if people can afford a mortgage that is right for them, their age should never be an issue.”
Diamond added: “A critical element of our business is constantly looking at how we can support brokers, giving them the tools they need to cut through the complexities of the increasingly mainstream later life market so they can take full advantage of its enormous opportunities.
“78% of housing wealth is owned by the over-50s, while the value of home equity in the over-65 age bracket is around £2.6 trillion.
“The opportunities are immense in mid and later life lending.”
