LiveMore Capital in new partnership with Specialist Mortgage Group

07 April 2022

As part of LiveMore Capital’s on-going roll out to broaden its market reach to borrowers aged 50 and over, the lender has partnered with brokerage Specialist Mortgage Group (SMG).

The new partnership allows SMG’s brokers to recommend mortgage products specifically designed for borrowers aged 50 to 90+, an area of the market that is underserved.

LiveMore’s approach to affordability is different to most lenders as it considers all income including pensions, investments, assets, savings and buy-to-let income.

Jon Sturgess, sales director at LiveMore, commented: “The opportunity to work with SMG gives us a fantastic platform to showcase our products and proposition. Our fresh look at affordability and flexible approach to underwriting really does mean that intermediaries will be able to offer more choice to their customers than has previously been available.

“For too long the mortgage market has been underserved for the older generation and we are able to plug a gap which gives the customer and broker more opportunities to meet their needs.

“Our revolutionary Ongoing Procuration Fee rewards intermediaries whilst enabling them to build embedded value in their businesses and we are excited that SMG is going to be part of this journey.”

The procuration fee is 0.55% gross with the option of an additional annual 0.13% gross for intermediaries who contact their clients each year with a customer care call. This can be for up to 15 years but is only paid for the time the loan is with LiveMore.

Barney Drake, CEO at Specialist Mortgage Group, added: “The need for competitive products for those in their later years continues to have steady growth and SMG wholeheartedly welcomes LiveMore onboard.

“In any crowded market, innovation delivered through product and service design adds tremendous value, so I am particularly excited about this new partnership.”