Focused on later life lending...
Introduced by the Financial Conduct Authority in March 2018, retirement interest-only mortgages are loans for older consumers.
The main difference between these and a mainstream mortgage is that the lender will not seek repayment of the loan until a specified life event (usually the customer’s death or move into long term care). At that point the loan is repaid through the sale of the property. They’re regulated as standard mortgages and require no additional permissions from advisers to sell them.
A critical consideration for a retirement interest-only mortgage is that the customer must be able to afford the interest payments both now and in the future. For joint borrowers, the interest payments should be affordable after the death of the first party.
We have developed a range of options, supported by the use of technology and data to simplify the process and to support our assessment of affordability.
Meet the team we are here to help
What we offer
Over a century of experience under one roof
Simplicity through technology and data
Sector leading client care programme design
We are always on the lookout for smart, like-minded individuals
LiveMore is a growing and developing business. We are always looking for new talent to help us change the later life lending landscape. If this sounds like you, we’d love to hear from you.
