"Over recent years the later life lending sector has seen significant growth and this trajectory is set to continue."
LiveMore currently offers a range of fixed rate interest-only mortgages with terms of five, seven, ten or twenty years as well as a fixed for life retirement interest-only (RIO) product.
When placing business with LiveMore, Sesame and PMS brokers can earn an ongoing procuration fee of 0.13% every year for 15 years or the life of the mortgage, whichever is shorter. To secure this the broker simply makes an annual call to their client to ensure all is well and supports anyone who may have become vulnerable since their mortgage application.
Alison Pallett, LiveMore’s MD of sales, commented: “Sesame Bankhall Group is one of the largest distributors in the country and I’m so pleased its Sesame and PMS brokers can now access our products for people aged 50 to 90+.
“This part of the market is underserved with this age group often being told they are too old for a mortgage, which is incorrect in many cases. We take into account all income, not just salary, and people are over the moon when they find out they can take out an affordable mortgage.”
Stephanie Charman, strategic relationship director at Sesame Bankhall Group, added: “Over recent years the later life lending sector has seen significant growth and this trajectory is set to continue. We are delighted with the addition of LiveMore to our Sesame and PMS panels. Their innovative product proposition supports our members in providing a wider set of product solutions when reviewing a customer’s lending needs into later life.”
