Later on existence professional LiveMore, has launched a brand new standalone debt consolidation choice for remortgage consumers.
This is aimed toward consumers who’ve greater than £10,000 of unsecured cash owed which might make up further than 50% of their full house loan. This new product permits debtors to secure 100% of those cash owed in direction of their belongings.
This new selection is related for a utmost private loan-to-value (LTV) of 75% for retirement curiosity-only house loans, 70% for typical interest-only mortgages and 85% for typical funds and curiosity house loans. It applies all through LiveMore’s broader assortment of mounted two-yr, five-year, five-as effectively as-5 12 months, 10-year and mounted-for-daily life (RIO solely) charges.
This ‘Up to 100% Financial debt Consolidation’ strategy will include a £500 cashback compensated to the patron upon completion. Shoppers also can acquire from freed from cost typical valuations.
LiveMore will take into consideration of us with an element of antagonistic credit standing for this debt consolidation options. It additionally accepts acquired earnings as much as the age of 80 a long time outdated, along with self-used with one particular-calendar yr accounts, as completely as rental, lodger, and quite a lot of pension incomes.
LiveMore talked about it has launched this choice proper after it acknowledged a buyer require in the course of the newest expense-of-living catastrophe to each reduce funds and avoid restriction to the very best sum of debt they’ll consolidate.
This begin follows the introduction in February of a 100% bank card debt consolidation as part of its LifeMore 3 strategy. As a standalone choice has now been launched this LiveMore 3 will revert to its previous standards.
LiveMore senior proposition supervisor Tim Wellard says: “The cost-of-living disaster reveals no alerts of abating, so we’re carrying out all we will to assist shoppers, and provides extra decisions to intermediaries.”
He provides that the introduction of a standalone choice will make it simpler for intermediaries to pick the anticipated merchandise and present it to consumers.
