LiveMore Capital works with Experian to broaden mortgage options for over 55s

Experian data to power decisions of LiveMore Capital as it focuses on an underserved market

UK, September 4, 2020: Later-life lender LiveMore Capital will use Experian’s data services to understand and onboard new customers as it expands its presence in the over 55s mortgage market.

The UK’s leading specialist provider of retirement interest-only (RIO) mortgages will use Experian’s CrossCore for identity validation checks to approve customers who meet its compliance policy requirements. LiveMore will also receive and share credit information data with Experian to help understand the financial history of people applying for mortgages.

LiveMore launched to the market in June 2020 to focus purely on the RIO market. Its creation followed a call from the Financial Conduct Authority in 2018 for more solutions for later-life borrowers. They may have reached the end of their mortgage time but are unable to repay their existing mortgage, or seek to unlock capital in their property.

LiveMore offers interest-only mortgages of up to 75% loan-to-value and fixed-rate periods which range from five years to lifetime. Its mortgage products are designed around later life borrowers and only become repayable when the mortgage holder moves into permanent care or dies.

Lisa Fretwell, Managing Director of Data Services at Experian, said: “The UK’s financial needs are changing all the time and it’s important that the products available reflect that. The data we supply to LiveMore will help it to understand and serve people over the age of 55 who want retirement interest-only mortgages, who may have previously struggled to find the right mortgage product for them.”

More:  Does Life Insurance Require a Credit Check?

Leon Diamond, CEO of LiveMore Capital, said: “We’re grateful for the strong support received from Experian for us as a new lender.  Good data is as important as ever in enabling us to make accurate lending decisions, and we are pleased with how the onboarding process has gone with Experian – particularly since much of this has occurred during lockdown, and all the challenges that have come with that.”

ENDS

Media contacts:

Ade O’Connor, Senior PR Manager, Corporate & Business, UK&I, Experian

Tel: 07583 085 796/ E: ade.o’connor@experian.com

Brands2Life for Experian

Tel: 0207 592 1200 / Email: experian@brands2life.com

About Experian

Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.

We have 17,800 people operating across 45 countries and every day we’re investing in new technologies, talented people and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

More:  Experian acquires majority stake in Arvato Financial Solutions Risk Management division

Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.

About LiveMore Capital

LiveMore Capital is a recently launched specialist mortgage lender in the UK, focused on providing flexible retirement interest only mortgage solutions (RIOMs) for customers aged 55 and over.  LiveMore Capital was founded in response to the FCA’s call to action in support of this underserved and rapidly growing segment.  LiveMore’s fast growing team already benefits from over 200 years’ experience across a wide range of established and challenger mortgage lenders, in addition to possessing significant additional credit and financial expertise.  LiveMore Capital Limited is authorised and regulated by the Financial Conduct Authority under firm reference number 820578.

Further information can be found at www.livemorecapital.com .


More from: | Category: Finance and Utilities Company News