News in brief - 16 May 2025

LiveMore has launched its new standard part & part mortgage. The product is designed for borrowers aged 50 and above, whether they are working or retired, and combines elements of both interest-only and capital and interest to suit a range of financial situations. Key features of the product include an LTV of up to 80% LTV, with a maximum of 75% on interest-only and an additional 5% available on capital and interest. It also has the flexibility to make up to 10% in overpayments per annum. The loan term can extend up to 40 years with no maximum age limit, making it accessible to borrowers in their 80s and above.

Nationwide has adjusted its mortgage affordability calculation by reducing its stress rate by between 0.75% and 1.25%. The move is set to help applicants to borrow more, whether they are buying their first home, are moving to a new property or remortgaging. As a result, applicants will be able to borrow, on average, £28,000 more. The move comes after changes to the rule clarification on stress rates by the FCA, which confirmed the option to stress affordability with reference to product rather than revert rates.

ModaMortgages is now accepting day one remortgages for bridge exit applications across its core and limited edition buy-to-let product ranges. The lender will also accept applications for capital raising where the applicant has sufficient equity in an existing property. Landlords can borrow between £25,000 and £2m, with LTVs of up to 80%. The announcement comes after the specialist lender boosted its maximum LTV to 80% LTV, as well as adding £0 and 3% product fee options to its limited edition range.



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