Equity Release

Later life lender offers 100 per cent debt consolidation

Later life lender offers 100 per cent debt consolidation
Christina Hoghton
Written By:
Christina Hoghton

LiveMore has introduced the ability to consolidate all other debts on mortgages up to £1m.

The later life lender is offering the products to borrowers aged 50 to 90-plus.

It has widened its existing criteria to give borrowers access to 100% debt consolidation on mortgages of up to £1m.

The debt consolidation product is available on LiveMore’s maximum loan-to-value (LTV) mortgage products, including standard interest-only (70% LTV), retirement interest-only (75% LTV) and standard capital and interest (85% LTV).

Adverse credit accepted

LiveMore will consider lending to those with adverse credit, including mortgage and unsecured arrears as well as county court judgements (CCJs) and defaults.

It 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.”