LiveMore has calculated that it will have generated year-on-year growth of 300% in revenue and 100% in lending by the end of 2024.
In June, LiveMore launched its first securitisation, generating £208m in wholesale funding and becoming the first mortgage lender in the UK to securitise retirement interest-only (RIO) mortgages.
In addition, during 2024 the lender developed its AI-driven LiveMore Mortgage Matcher to help brokers easily find suitable product options for each client according to their specific financial situation and individual needs.
The Mortgage Matcher searches LiveMore’s 200+ products spanning standard interest-only, standard capital and repayment, RIO and lifetime (equity release) mortgages. This search across all four products and the resulting documentable PDF that brokers can give to their clients, helps support brokers with providing good customer outcomes in line with the Consumer Duty, the firm said.
Leon Diamond (pictured), founder and CEO of LiveMore, said: “Everything we do is to reduce inequality and serve the social purpose of lending to people aged 50 to 90 plus who are typically underserved by other lenders. We are founded on the belief that if people can afford a mortgage that is right for them, their age should never be an issue.
“A critical element of our business is constantly looking at how we can support brokers, giving them the tools they need to cut through the complexities of the increasingly mainstream later life market so they can take full advantage of its enormous opportunities.
“78% of housing wealth is owned by the over-50s while the value of home equity in the over-65 age bracket is around £2.6tn. The opportunities are immense in mid and later life lending.”
