At LiveMore, we pride ourselves in delivering a first class customer experience. In this article, our Head of Underwriting, Matthew Evans, gives his view on what makes our process stand out and the level of service you can expect once you have submitted an application.
The current problem with assessment criteria used by traditional lenders
The common-sense approach adopted by LiveMore and what this means for your clients
Adding the personal touch to your experience with us
The current assessment criteria used by traditional lenders are out of date – they do not
take account the changing economic and social realities. People are getting on the housing ladder later. They are working longer, with many still earning some form of income way beyond the traditional retirement age. They may have additional income from private or state pensions and other assets. And many of them have been successfully servicing a mortgage for years – they’re actually less of a risk than younger borrowers.
Unlike more traditional High Street lenders we really understand issues like these and our flexible, human approach to underwriting enables us to assist many more borrowers to enjoy
their later life.
Our approach is radically different. We look beyond the applicant’s age and focus on more
relevant financial issues such as their long credit history and the likelihood that, in addition to their pension income, they’ll have income from work, assets and investments way beyond normal retirement age.
Every LiveMore application is manually reviewed by an experienced member of our underwriting team
Every LiveMore application is manually reviewed by an experienced member of our underwriting team. We are aware that not all applications are straightforward, so we adopt a common-sense lending approach ensuring that we are actively looking for a responsible, positive outcome where possible.
Our team of underwriters rely on their vast knowledge and experience to ensure that the
customer journey is as smooth as possible. We like to keep it simple when it comes to underwriting requirements and we are aware and mindful of the challenges faced when it comes to collating documents. You can be certain that we will only request documents required to support our lending decisions. If you have any questions as to why a specific document is required, then please feel free to contact us, we would be happy to discuss this with you.
At LiveMore, we pro-actively encourage our underwriters to liaise and build relationships with
our intermediaries. It is important for you to have direct access to the underwriter who is reviewing your borrower’s application and who is ultimately at the end of the decision-making process.
We want to work with you and not restrict or hinder you
We want to work with you and not restrict or hinder you, so the team will endeavour to give you regular case updates at key touch points throughout your application process (such as valuation instructions and most importantly when we are ready to issue a mortgage offer!).
At LiveMore we are aware of the importance of the broker and borrower relationship, and we want to ensure that we play our part in ensuring that a first-class service is provided.
A member of the underwriting team will personally speak to every applicant before the issue of a mortgage offer. This is a great opportunity to personally introduce ourselves and answer any questions that the borrower may have about the completion process.
We have had some amazing feedback from applicants and brokers about the benefits that this part of the process provides, and we personally really enjoy the interaction that we have with the borrowers, prior to the issuing of the mortgage offer.
Whilst we can’t promise to accept every case, you can be sure we will give it our best shot.
Get in touch with our Sales Team today via email firstname.lastname@example.org or call 0203 011 4990.
We are really proud to announce our latest partnership.
As a new lender to the Later Life Market, we are in an ideal position to share some of our data regarding customers that we have been able to help with a RIO mortgage.
Our Managing Director, Pat Bunton, gives his view on the misconceptions surrounding RIO mortgages, and what we have done at LiveMore to help make it easier to identify RIO cases.