LiveMore has reported a 330% growth in lending since the start of the year, with 35% monthly growth in October. The lender, which specialises in borrowers over the age of 50, also reported that October 2023 was their best month since its launch in 2020, with a record number of mortgage applications, offers and completions. The results come despite a slump in the wider later life market, with Q2 figures from the Equity Release Council, reporting a 46% drop in the number of new equity plans taken out in 2023. LiveMore has also experienced a significant rise in brokers using their technology to help source later life products.

Darrell Walker has been appointed as the new head of mortgage sales and distribution at ModaMortgages, a new specialist buy-to-let (BTL) mortgage lender from Chetwood Financial. Walker has been with Chetwood for the past year, helping to develop the ModaMortgages proposition and build out the team. He began his journey in financial services in 1991, holding roles with Coventry Building Society, Barclays Bank, Bank of Ireland, Lloyds Banking Group and Legal & General over the course of his career. He also worked at OneSavings Bank between 2014 and 2020, and most recently spent two-and-a-half years in product development and sales at Shawbrook Bank.

Landbay is making rate reductions of up to 0.30% across its two- and five-year BTL ranges, being the second major rate reduction in just over a week. Rates on its two-year standard fixed rate mortgages now start from 4.39%, with its two-year like-for-like remortgage products starting from 4.49%. Small HMOs and MUFBs for both two- and five-year fixed rates are now available at 4.69% and 5.59% respectively at 75% LTV. Landbay’s standard fixed rate mortgages are down by 0.10%, with rates now starting from 4.79%.

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