"The demand from older borrowers is only likely to increase over time and we feel that retirement interest-only is an important option for these customers."
Specialist retirement interest-only lender, LiveMore Capital, has partnered with L&C Mortgages.
LiveMore offers mortgages for borrowers aged 55+ with fixed rate products ranging from five years to lifetime, up to 75% LTV.
Its offering is particularly aimed at mortgage prisoners, those nearing the end of their existing term with no repayment plan in place, and those seeking income in retirement who can demonstrate ongoing affordability.
Alison Pallett, director of sales at LiveMore Capital, said: “The opportunity to work with L&C Mortgages gives us a fantastic platform to showcase our products and proposition. Our market leading LTV of 75%, coupled with our fresh look at affordability, really does mean that intermediaries will be able to offer more choice to their customers and help this underserved section of the market.”
David Hollingworth, associate director at L&C Mortgages, added: “The demand from older borrowers is only likely to increase over time and we feel that retirement interest-only is an important option for these customers. LiveMore’s innovative and flexible approach will add more choice for our advisers in finding the right solutions for our customers."