The MCI Mortgage Club has added LiveMore Capital to its panel and extended its range of products to include retirement interest only (RIO) mortgages.
Specialising in RIO mortgages, LiveMore welcomes borrowers aged 55 and over with properties valued over £125,000, and mortgages up to £1.25m.
The lender also helps interest only customers approaching the end of their mortgage terms without a repayment plan in place, equity release customers too young for 75% LTV, as well as older borrowers with SVR terms.
Head of the MCI Club, Melanie Spencer, commented: “Adding LiveMore to our panel of lenders is a great addition for our members in the later life lending space. We welcome the common sense approach that LiveMore offers, which includes options if clients find themselves in payment difficulty.
“It also has the ability to waive the ERC should the client need to repay the loan earlier due to a death of a partner or moving into long term care. Our members within the MCI Club will be able to offer more solutions to our clients that wish to borrow in their later life.”
LiveMore director of sales, Alison Pallett, added: “We are looking forward to working with the MCI Club, and building a strong partnership with their membership. We feel confident that our fresh approach to affordability within the retirement interest only market will be a game changer.”
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