LiveMore has launched a new up to 100% standalone debt consolidation range.

The lender argues that its new product fulfils an identified customer need during the current cost of living crisis to both reduce payments and avoid restrictions to the maximum amount of debt they can consolidate.

‘Up to 100% Debt Consolidation’ is designed for remortgaging customers who want to consolidate over £10,000 of unsecured debts, which would make up more than 50% of the total mortgage. With LiveMore’s flexible affordability criteria, customers may be eligible to borrow up to £1m against a range of properties.

This new range is applicable for a maximum loan to value (LTV) of 75% for Retirement Interest Only mortgages, 70% for standard interest-only mortgages and 85% for standard capital and interest mortgages. It applies across LiveMore’s wider range of fixed two-year, five-year, five+five year, 10-year and fixed-for-life (RIO only) rates.

‘Up to 100% Debt Consolidation’ comes with a £500 cashback paid to the customer upon completion. Customers can also benefit from free standard valuations.

Tim Wellard, senior proposition manager at LiveMore, said: “We believe that everyone should be able to live in their own house, no matter their age. The cost-of-living crisis shows no signs of abating, so we’re doing all we can to support customers, and provide more options to intermediaries.”