"NatWest is pleased to support LiveMore in the next stage of its growth with the launch of their term end interest-only mortgage product."
LiveMore lends up to 75% LTV and its product offering includes a retirement interest-only mortgage and its recently announced Term End interest-only mortgage, which provides the opportunity for a longer fixed term rate.
Its borrowers have an average age of 68 while the eldest is 92, with 35% of those over 65 still working well past the state retirement age. Joint and single borrowers are split evenly, with single female borrowers constituting more than a third (37%).
Leon Diamond, CEO of LiveMore, commented: “We are thrilled to be working with NatWest Markets to support our growth, so we can continue to serve the often forgotten over 50s market. Having the support from NatWest Markets means together we can help mobilise the industry around our mission to help the over 50s have genuine control of their financial lives. We have listened to the regulators and our customers, and with the support of this relationship, we can continue to provide options for later life borrowers underserved by high street lenders.”
Jennifer Wallaert, head of Specialty finance at NatWest Markets, said: “NatWest is pleased to support LiveMore in the next stage of its growth with the launch of their term end interest-only mortgage product. This transaction demonstrates NatWest’s expertise and capabilities in arranging a tailored secured senior funding warehouse as well as a hedging solution to a specialist lender offering a longer-term fixed rate mortgage product to support later life borrowers in the UK.”
