Good news for homeowners over 50! LiveMore, the specialist lender for older borrowers, has just announced some big changes that could make it easier to get a mortgage, even if you’ve had some bumps in the road.

First up, the good news – LiveMore has upped the maximum amount you can borrow. That’s right, you can now get a mortgage of up to £1.25 million – a whopping £250,000 more than before! This applies to their core range of products, including LiveMore 1, 2 and 3, as well as their handy ‘Up to 100% debt consolidation’ product. This means you can use the full amount of your mortgage to pay off existing debts, giving you a fresh financial start.

A Helping Hand for Those With Less-Than-Perfect Credit

LiveMore also understands that life doesn’t always go to plan, and some people might have a bit of a less-than-perfect credit history. They’ve made some changes to their policies to be more flexible in these cases.

For LiveMore 4, which is designed for borrowers with some adverse credit, here’s what’s new:

• More Missed Payments Allowed: You can now have up to four missed payments on unsecured debts, compared to three before.
• Higher Tolerance for Past Judgments: LiveMore will now consider borrowers who have had County Court Judgments (CCJs) or defaults of up to £2,500, up from £1,500.
• Debt Management Plans Accepted: If you’ve been diligently paying off debts through a Debt Management Plan for over three years, LiveMore will now consider your application.

More Options for Your Retirement Years

These changes apply to all of LiveMore’s standard products, including Capital and Interest, Interest Only, and Retirement Interest Only (RIO). So, whether you’re looking to buy a new home, remortgage, or release some equity to help with retirement, LiveMore might be able to help.

Sam Ward, head of proposition strategy and development at LiveMore, said: “We know that many older borrowers are still facing financial challenges, even with the economy doing better. These changes are just the start of our commitment to providing support for borrowers aged 50 to 90 plus.”