Gifting cases for borrowers over 50
The bank of family is growing, and it's no longer just the bank of mum and dad, with borrowers looking to help their grandchildren too. LiveMore's products help older borrowers to help their family out with capital raising.
Helping children on the property ladder
A retiree wanted to help their kids buy their first homes, but didn't have access to the cash. They needed £300k, so they asked for a loan against their house. Even though they were retired, they had money coming from their pension that could pay for the loan.
We gave them the full loan, and that kickstarted their three kids' journey to owning homes. The borrower said, "I always aspired to help them onto the ladder, I've got assets but little cash. Raising a mortgage seemed the obvious answer and with LiveMore's help I was able to do just that."
Key Points:
- For borrowers over 50:
- Most commonly for children and grandchildren who want to buy a home
- We allow capital raising on unencumbered properties
- Capital raise available across capital repayment, interest only and equity release
- No max age at application for RIO and lifetime mortgages
LiveMore can help where other lenders can't.
Got a self-employed case? Start with our quick calculator to see what repayment options could be available for your client