LiveMore Capital has announced a new partnership with Mortgage Advice Bureau to grow its distribution.
The lender’s term interest-only products will now be available to another 1,600 brokers.
Specialising in lending to people over the age of 50, LiveMore can now offer brokers at Mortgage Advice Bureau as well as their clients a range of fixed rate term interest-only mortgages.
Fixed rates can be taken out for five, seven, 10 or 20 years with the maximum term set at 30 years. LiveMore has fee free options available, with maximum LTVs 60% or 65% depending on the product.
“Mortgage Advice Bureau is one of the largest brokerage firms in the country so it’s great news that its intermediaries can now access our range of fixed rate term interest-only mortgages,” LiveMore managing director of sales, Alison Pallett, commented.
“In addition to a one-off procuration fee of 0.55%, brokers can take advantage of our ‘Ongoing Procuration Fee’ which pays out 0.13% each year for 15 years. All they have to do is carry out an annual care call with their client to help identify and support anyone who may have become vulnerable since their mortgage application.”
Head of lending at Mortgage Advice Bureau, Brian Murphy, added: “Mortgage Advice Bureau is delighted to be partnering with LiveMore, specifically in having access to their term interest only products.
“Their approach in determining affordability, particularly their ability to consider a wider range of incomes, will, we are sure provide increased opportunities for our advisers to assist even more customers achieve the right outcome for their home financing arrangements.”
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