LiveMore Capital, a mortgage lender to the over-50s, has secured a £275m credit facility from NatWest.
According to LiveMore, the financing will facilitate its portfolio growth and loan originations for its interest-only mortgage products and supports the next step in its journey to ‘reimagine later-life mortgages and mobilise the wider financial services industry towards fairer, more holistic over-50s lending practices’.
In addition, the credit facility will support LiveMore’s product offering of their retirement interest only mortgage as well as its term end interest only mortgage that provides the opportunity for a longer fixed-term rate – allowing borrowers to stay in their homes for longer.
LiveMore claims it was established to support an underserved sector of the market and provides a wider range of options to cater to over-50s borrowers.
LiveMore CEO Leon Diamond said, “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.”
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