Later existence skilled LiveMore, has launched a brand new standalone personal debt consolidation choice for remortgage purchasers.
This is aimed toward customers who’ve about £10,000 of unsecured money owed which might make up further than 50% of their full dwelling loan. This new merchandise permits debtors to protected 100% of those cash owed in direction of their property.
This new selection is relevant for a highest personal loan-to-worth (LTV) of 75% for retirement curiosity-only mortgages, 70% for typical fascination-only dwelling loans and 85% for normal capital and fascination dwelling loans. It applies all through LiveMore’s broader number of fastened two-calendar 12 months, five-yr, 5-moreover-five calendar 12 months, 10-year and mounted-for-lifetime (RIO solely) costs.
This ‘Up to 100% Debt Consolidation’ plan arrives with a £500 cashback compensated to the buyer on completion. Shoppers can even benefit from free common valuations.
LiveMore will take a look at folks immediately with an issue of hostile credit score rating for this bank card debt consolidation objects. It additionally accepts gained earnings as much as the age of 80 yrs earlier, together with self-employed with 1-yr accounts, as successfully as rental, lodger, and a vary of pension incomes.
LiveMore said it has launched this feature simply after it recognized a consumer want via the current cost-of-living disaster to each reduce funds and avoid restriction to essentially the most quantity of personal debt they will consolidate.
This launch follows the introduction in February of a 100% personal debt consolidation as a part of its LifeMore 3 strategy. As a standalone alternative has now been launched this LiveMore 3 will revert to its previous standards.
LiveMore senior proposition supervisor Tim Wellard claims: “The charge-of-residing disaster displays no indicators of abating, so we’re performing all we are able to to assist purchasers, and supply extra potentialities to intermediaries.”
He provides that the introduction of a standalone assortment will make it easier for intermediaries to search out the required resolution and present it to clients.
