Later on on a regular basis residing skilled LiveMore, has launched a brand new standalone bank card debt consolidation range for remortgage prospects.
This is geared toward prospects who’ve above £10,000 of unsecured cash owed which might make up additional than 50% of their total mortgage loan. This new services or products permits debtors to secure 100% of those money owed in opposition to their home.
This new selection is relevant for a highest financial institution loan-to-price (LTV) of 75% for retirement interest-only mortgages, 70% for normal desire-only residence loans and 85% for typical capital and fascination mortgages. It applies all through LiveMore’s broader collection of mounted two-calendar yr, 5-calendar yr, 5-as effectively as-five calendar yr, 10-yr and fixed-for-life (RIO solely) charges.
This ‘Up to 100% Financial debt Consolidation’ plan arrives with a £500 cashback paid to the patron on completion. Shoppers may revenue from completely free typical valuations.
LiveMore will think about people with a facet of opposed credit score historical past for this private debt consolidation merchandise. It additionally accepts gained revenue as much as the age of 80 a few years earlier, like self-employed with a person-12 months accounts, in addition to rental, lodger, and a range of pension incomes.
LiveMore said it has launched this selection simply after it acknowledged a shopper will want in the middle of the current cost-of-residing catastrophe to each decrease funds and keep away from restriction to probably the most sum of bank card debt they’ll consolidate.
This launch follows the introduction in February of a 100% debt consolidation as a part of its LifeMore 3 put together. As a standalone chance has now been launched this LiveMore 3 will revert to its earlier necessities.
LiveMore senior proposition supervisor Tim Wellard states: “The expense-of-living catastrophe reveals no indicators of abating, so we’re doing all we are able to to assist consumers, and provide additional alternate options to intermediaries.”
He provides that the introduction of a standalone range will make it more easy for intermediaries to search out the important product and present it to purchasers.
