End-of-life lender Livemore Capital has returned to the mortgage market with a range of fixed-rate-only mortgage products for borrowers aged 50 to 90 and over.
The lender products temporarily suspended at the end of Septemberwhich she said was due to the dislocation of the UK money and money markets.
The products follow a four-tier structure, which allows brokers to meet customer needs with criteria at each level.
The different tier criteria can suit clients with ‘simple requirements’ to ‘more complex credit profiles’.
There are also options available for debt consolidation, non-standard property construction and mortgage.
The range consists of retirement interest-only and term interest-only mortgage products with maximum loan-to-value (LTV) ratios of 60 and 75% respectively.
Rates start at 7.75% for 5 and 10 year fixed rate mortgages between £10,000 and £1.5m.
Leon Diamond (Photo)CEO of Livemore Capital, said it was “great to be lending again” as people aged 50 to 90 and over are “underserved by the mortgage market”.
He added: “In the current economic climate, they need us more than ever. We offer them the broadest criteria in the market, some of the highest loan amounts, and welcome all incomes to assess affordability, including pensions or rental income.
“People need options and flexibility, that’s what we’re looking for. Our products are uniquely structured into four tiers to help us take into account all sorts of circumstances, including complex credit histories or even past arrears.
Diamond went on to say that he manually underwrites all cases so that each case is “evaluated on its own merits.”
“Whether you’re 50 or 90, you know you’ll get a fair hearing with Livemore,” he said.