Mortgage Advice Bureau has partnered with later life lender LiveMore to integrate the LiveMore Mortgage Matcher into its adviser system.
The collaboration will see the technology used by all MAB advisers operating in the later life lending space, enabling quicker assessments of affordability and more tailored product recommendations for customers who may not meet traditional lending criteria.
The integration allows advisers to analyse a customer’s income and expenditure and generate a maximum borrowing calculation, before filtering suitable options from LiveMore’s later life mortgage range.
LiveMore’s Mortgage Matcher is designed to simplify what can be a complex area of the market by surfacing products that may not immediately appear achievable. The tool can instantly assess more than 250 LiveMore products across multiple categories, providing advisers with a clearer view of the options available.
The system has been fully embedded within MAB’s existing technology, with the intention of creating a straightforward adviser journey that requires minimal additional criteria input.
Darren Cunliffe, head of intermediary sales at LiveMore, said: “Crucially, our Mortgage Matcher doesn’t just assess affordability or point advisers towards a product type and leave them to join the dots.
“It actively surfaces lending solutions that many brokers wouldn’t expect to be achievable, based on each customer’s individual circumstances.
“As a result, MAB advisers get an instant, clear view of what is genuinely possible for their client, helping them unlock options that might otherwise be overlooked and dramatically speeding up the journey from enquiry to application.”
The Mortgage Matcher® has been built with affordability as its central focus and considers a broad range of income sources that can be overlooked in later life lending, including rental income, savings and pensions. There is no minimum income requirement.
Steve Humphries, proposition director at MAB, said: “By integrating the Mortgage Matcher into our technology, we’ve been able to simplify the process for our later life lending advisers dramatically, helping them to have better conversations with their customers about their available options.
“We always want to give our customers the most suitable outcome, so LiveMore’s focus on affordability really struck a chord with us. Going forward, the Mortgage Matcher will help us to ensure we’re considering all options and providing the highest quality advice for each customer’s circumstances.”
Leon Diamond, chief executive at LiveMore, said: “I set up LiveMore with a simple aim: to challenge the status quo for people approaching retirement and those already retired who were being overlooked by mainstream criteria.
“Our LiveMore Mortgage Matcher demonstrates what is possible, and its integration with MAB means that we are now helping even more people reaching retirement age to find a financial solution that works for them.”
