Complex income cases for borrowers over 50
We accept a broad range of income; from multiple pension pots to investment income, gross rental income, dividends and more. Our broad affordability criteria puts multiple incomes and assets to use to maximise lending for older borrowers.
Doubling affordability with dividend income
Charles had his sights set on retirement, eagerly anticipating a move into a brand-new home. Despite boasting a substantial pension pot and shares, traditional lenders turned a blind eye to his assets.
LiveMore took a comprehensive look at all of Charles' financial resources, including his pensions and share dividends, which other lenders disregarded.
As a result, we offered him a loan that doubled the amount provided by any other lender. LiveMore were able to offer a £380,000 loan to Charles for his £685,000 new-build home.
By acknowledging the full scope of his assets, we provided a financial solution that enabled him to enjoy a comfortable retirement in his new home.
Key Points:
- For borrowers over 50:
- We love multiple earnings, especially when a client is semi-retired or self-employed
- We accept multiple pension income including state and private pensions, and SIPPs
- We accept 10 months gross rental income rather than the SA302
- We accept dividend income and retained earnings
LiveMore can help where other lenders can't.
Got a complex income case? Start with our quick calculator to see what repayment options could be available for your client