LiveMore's Mission: CEO Shares Why They Focus on Over 50s Market | Tech Times Exclusives #33

Tech Times Exclusive is back again with another interview with a rising fintech company called LiveMore. During our talk with the company's CEO, we learned why they want to offer lending services to people over 50 years old.

LiveMore focuses on offering mortgages to people over 50 years old. The main target of this fintech lending company is consumers in the United Kingdom.

Offering a great lending solution gives people the opportunity to live a better life. LiveMore received funding from a retail banking company to further help it achieve its main goal.

LiveMore Secures NatWest Funding

LiveMore's CEO, Leon Diamond, confirmed that they were able to secure large funding with NatWest. He said that this banking company is a great partner since they have the same vision.

This means that LiveMore and NatWest both see the opportunity in the over 50s lending market. The fintech lending company was able to receive around $370 million funding from its new retail banking partner.

Thanks to this financial help, LiveMore can boost its mortgage lending services. Right now, the total fund of the fintech firm is more than $400 million.

LiveMore's Mortage Service for Over 50s

Diamond said that they are looking to solve the problem of mortgage lending in the United Kingdom when it comes to consumers over 50 years old.

He added that the elderly in the U.K. find it hard to lend money for their properties.

The CEO further explained that the current policies criteria of the high-street banking companies are not appropriate with the new lifestyle of people, especially since many individuals tend to live longer now.

This is what LiveMore is trying to solve currently. As of the moment, the fintech lender has since been accomplishing its goal since the oldest consumer they have is a 92-year-old woman looking to downsize into an apartment.

If you want to see other things that LiveMore CEO Leon Diamond shared with us, you can watch the actual interview below.

Applying for LiveMore's Mortgage Service

Applying for LiveMore's mortgages is quite easy if you are already over 50 years old. On the other hand, the company also considers borrowers about to reach 50 years of age.

Aside from this, LiveMore can also lend up to 75% of the property's value. If you are interested, here are the current mortgage services that the fintech lender offers:

Affordable

• We consider your whole financial circumstances (many others won't).
• You only pay the interest on the loan, which means lower monthly payments and less of an impact on inheritance than equity release

Flexible

• Want to pay off more than the interest? Be our guest!
• With a No End Date Mortgage, you may never need another one
• Set the term limit if you plan to downsize or repay the loan in your lifetime

Stress free

• Worried about rising interest rates? Then fix your payments, even for life!
• No early repayment charges in case of borrower's death
• Payment breaks up to 6 months to manage significant life events

For more news updates about the latest exclusive interviews with tech CEOs, always keep your tabs open here at TechTimes.

This article is owned by TechTimes

Written by: Griffin Davis