LiveMore Capital has extended its over-55s retirement interest-only (RIO) product range to include purchase mortgage applications.
LiveMore has a maximum loan-to-value (LTV) of 75% and a flexible approach to income, beyond a typical retirement age.
Alison Pallett, director of sales at LiveMore, said: “These are exciting times for us – with the current stamp duty holiday, many older borrowers will be seeing this as an opportunity that they can benefit from and so the time is right to extend our offering to these customers and help them on their journey.
“We have listened closely to intermediaries’ needs and this enhancement is in direct response to what we are seeing in the market where our intermediary partners are reporting record levels of enquiries in the house buying space and we are in a fortunate position to be able to react quickly to their requests.”
Pallett adds: “At time when there is increased regulatory spotlight on equity release selling practices, RIOM has a great place in any good intermediary’s armoury and now was the right time to extend our offering to include house purchase mortgages.”