- LiveMore Updates
- July 2021
- Author: Tori Johnson
Our year in numbers!
To launch as a new lender is tough enough, but to launch one during a period of prolonged COVID disruption is something else - but we did it! Here we take a look back over our year.
Nothing stopping us
Very little has been able to stand in the way of our mission to simplify later life lending, not even a global pandemic. In spite of numerous lockdowns, we are proud of the customers we have reached and the positive outcomes achieved during our first year as a business.
Our proudest moment
One of our proudest moments was helping our oldest customer to date: an 87-year old widow, who had six months left on her interest-only mortgage and was being pressured by her high street lender to pay back the capital on her loan – even though she had sufficient pension income to meet her mortgage payments.
As we take such a pragmatic and flexible approach, we were able to offer her our lifetime fixed interest-only product with a 75% loan-to-value, which enabled her to stay in her property and enjoy her later life years there.
Our year in numbers
We've come a long way in a short space of time, with 1,883 brokers registered, 156 Zoom training sessions delivered and three prestigious award nominations, which is a testament to our dedicated and hard-working team.
The exciting part is that we are just at the start of this journey. As we begin our second year, we will build on the solid foundations that have been laid as we work towards our goal of becoming the go-to lender for mortgages for the over-55s.
To join us on our exciting journey, register with us today!
In July 2020, we launched as a specialist lender offering interest-only mortgages to the over-55s. Our Managing Director, Pat Bunton, shared his thoughts with the financial reporter on LiveMore's first birthday.
At LiveMore Capital, our goal is to put the customer first in everything we do; ensuring our website and digital tools are as easy and efficient to use as possible is one way that we aim to do this.
It has been three years since the FCA reclassified retirement interest-only (RIO) mortgages as mainstream products. While many hoped this would shake up the later life lending market, in reality take-up of RIO mortgages has been lower than expected. In this article, our Sales Director, Alison Pallett, gives her view as to why mainstream brokers need to look outside the box and take that leap of faith.