LiveMore has launched an exclusive packager proposition and secured a product deal with five packager firms.
The packagers that LiveMore is working with in this exclusive deal are Brightstar, Complete FS, Brilliant Solutions, TFC and Impact Specialist Finance.
LiveMore said the move is designed to further broaden broker access to later life lending products for its customers, who are aged 50 to 90+.
There are two new packager products which will give brokers access to deeper adverse criteria than LiveMore’s standard product range of retirement interest-only (RIO), interest-only and capital and interest mortgages. Features include more flexibility on county court judgments (CCJs), unsecured debt and the ability to access 100% debt consolidation.
LiveMore confirmed that these products are priced the same as the standard range, therefore there is no additional cost to the borrower to access the enhanced credit criteria. The lender also revealed there are fee-free options but if brokers choose a product from its fee range, they will benefit from a £200 discount on the standard fee.
CEO and founder of LiveMore, Leon Diamond, said: “As LiveMore continues to grow, the next step in our evolution is to expand our distribution. We are thrilled to broaden customer access to later life lending product by giving packagers exclusive product options that help those customers locked out from most lenders.
“The capability of packagers, with their deep expertise in understanding complex circumstances and vast distribution, is a great opportunity to reach new customer groups.”
Sales director at Brilliant Solutions, Michael Craig, added: “We are really excited to have worked with LiveMore to build their packager exclusive products. Later life is an underserved part of the market, but we know that with an ageing demographic and a cost of living crisis, the need is greater than ever for customers to find innovative solutions to stay in their homes.
“These products will help to grow the over-50s market and help older borrowers who have previously had very few options.”
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