"This new debt consolidation feature should help ease the pressure for many older borrowers, especially as the cost-of-living continues to bite and the number of mortgage prisoners escalates."
- Tim Wellard, product manager at LiveMore
LiveMore has widened its existing criteria to offer intermediaries and their clients access to 100% debt consolidation on mortgages up to £1m.
The new debt consolidation product is available on LiveMore’s maximum LTV mortgage products, including standard interest-only up to 70% LTV, retirement interest-only at 75% LTV, and standard capital and interest at 85% LTV. There is no loan-to-income cap.
LiveMore continues to consider adverse credit, including mortgage and unsecured arrears as well as CCJs and defaults. The company also accepts earned income up to the age of 80 years old, including self-employed one-year accounts, as well as rental income and most types of pensions.
Tim Wellard, product manager at LiveMore, said: “This new debt consolidation feature should help ease the pressure for many older borrowers, especially as the cost-of-living continues to bite and the number of mortgage prisoners escalates.
“LiveMore is founded on the belief that everyone who can afford a mortgage should be able to live and remain in their own homes for as long as they want to – whether they’re 53 or 103 years old.”
