Contact Money Release

Simply click on the links below London: 0207 158 0881 Portishead: 01275 293737 Email: info@moneyrelease.co.uk Close
Rated Excellent on Trustpilot
Phone Money Release Icon Equity Releaser Calculator Icon

LiveMore was established in 2018 and entered into the equity release market in 2020. But are their plans any good, and how do they compare to the competition?

LiveMore offers the most popular type of equity release, a lifetime mortgage. All LiveMore lifetime mortgages meet the Equity Release Council standards and afford you their protections. LiveMore's Property+ lifetime mortgage offers some of the most flexible underwriting criteria in the market.

Let's review:

LiveMore equity release interest rates

What interest rates does LiveMore offer? And how do they stack up against the competition?

LiveMore

Interest rates from 5.55% MER

Other providers

Interest rates from 5.51% MER *

Range Product Monthly equivalent rate (MER) Loan Amount (Maximum available at this rate)
ClassicStandard O5.55%Show Me
ClassicStandard N5.60%Show Me
ClassicStandard M5.64%Show Me
ClassicStandard L5.71%Show Me
ClassicStandard K5.73%Show Me
ClassicStandard J5.85%Show Me
ClassicStandard I5.92%Show Me
ClassicStandard H6.00%Show Me
ClassicStandard G6.06%Show Me
ClassicStandard F6.09%Show Me
Lifetime MortgageLite6.11%Show Me
ClassicStandard E6.15%Show Me
ClassicStandard D6.17%Show Me
Lifetime MortgageStandard6.29%Show Me
ClassicStandard C6.29%Show Me
ClassicStandard B6.43%Show Me
ClassicStandard A6.70%Show Me
ClassicStandard6.94%Show Me
Lifetime MortgageProperty+7.52%Show Me

* Some other lenders offer variable live pricing. Please request your personalised illustration for your best rate.

How much money can LiveMore provide on their lifetime mortgages? Use our calculator to find out, plus see how they stack up to the wider market.

LiveMore equity release calculator

Our LiveMore equity release calculator gives INSTANT RESULTS
and requires NO PERSONAL DETAILS.


Property value:
Age of youngest homeowner:
Single or joint ownership:
Property type:
Country:

You can search for a specific amount of money you want to release or leave it blank to see the maximum release available.

Release amount:

LiveMore equity release plans

LiveMore offers a number of equity release plans, but their Property+ lifetime mortgage offers some of the most flexible property underwriting criteria in the market. We have recommended LiveMore's Property+ regularly to clients who have previously been refused equity release.

However, their other equity release plans often cost more than other providers and offer less favourable underwriting criteria.

LiveMore offers the most popular type of equity release plan, the lifetime mortgage. Let's explore some criteria and features in greater detail:

Lite
lifetime mortgage
Standard
lifetime mortgage
Property+
lifetime mortgage
Fixed-for-life interest rates from 6.11% MER Fixed-for-life interest rates from 6.29% MER Fixed-for-life interest rates from 7.52% MER
Can apply if aged 55+
No maximum age limit
Minimum property value £70,000
No maximum property value
Minimum loan £10,000
Optional payments of up to 10% each year
Downsizing protection
Significant life event waiver
Fixed early repayment charges
Free valuation on initial advance
No age restricted properties Age restricted properties acceptable subject to service charges and resale clauses
No non-standard methods of construction Will consider non-standard methods of construction, including timber/steel framed, concrete walls and Modern Methods of Construction
No sprayfoam Sprayfoam is acceptable as long as it is repaired within three months of receiving funds

Benefits of LiveMore equity release

Free valuations: All LiveMore equity release plans offer free valuations on initial borrowing, regardless of the property's value.

I love this feature because it takes all the risk away from you. If there are any unforeseen issues with the survey, you will not have to pay anything upfront, and you will not be liable for paying a penny should you decide not to proceed.

Arrangement fees: There are no arrangement fees on any LiveMore lifetime mortgages.

Flexible property underwriting: LiveMore's Property+ lifetime mortgage is often available to clients who have previously been refused equity release due to the construction and features of their property.

It is the only lifetime mortgage product from any lender that will lend money with spray foam that has been installed in your home after the property was built.

Useful features offered by LiveMore

Significant life event waiver: For joint applications, if you repay the lifetime mortgage within three years of the date the first borrower died or moved into long-term care, an Early Repayment Charge (ERC) is not applied.

Downsizing protection: If after 5 years, you move to a property that doesn't meet LiveMore's lending criteria and you are unable to transfer the mortgage, you can repay the loan in full without incurring any early repayment charges (ERCs).

Partial repayments: You can repay up to 10% of the loan amount each year without penalty. There is a minimum payment amount of £200, and you can repay up to 12 times per year. Your annual allowance is renewed on the anniversary of the date the borrowing completes. Any unused balance does not roll over into the following year.

Fixed ERCs: LiveMore levy an Early Repayment Charge for the first ten years: 8% in years 1 - 3, 6% in years 4 - 10, and no fee thereafter.

LiveMore's equity release underwriting

Flexible on construction: LiveMore is one of the most flexible equity release lenders for non-standard construction properties on its Property+ product.

Lease length: LiveMore will accept properties with a minimum leasehold tenure unexpired term of at least 90 years.

Bad debts: LiveMore is flexible if you have County Court Judgments and will accept applicants with Debt Management Plans, provided that they are settled with the equity release money.

Married couples single applications: LiveMore is one of only three equity release lenders who allow sole applications from married couples. If you are married and own your home solely, LiveMore is considered.

We can discuss applying solely and jointly to ensure your needs are best met. Please speak with one of our equity release advisors for more information.

Concessionary Purchase: LiveMore will consider an application for a Concessionary Purchase or an Inter-family transaction.

Where the plans aren't so good

LiveMore's equity release plans are feature-rich but may cost more than alternatives from other lenders.

A significant downside of LiveMore's equity release plans is that they do not currently offer to lend additional money in the future. Once you have taken your plan, you can only borrow more by replacing the lifetime mortgage with another. This can involve Early Repayment Charges and be costly.

As part of our equity release advice service, we will consider plans from LiveMore and compare them to other equity release lenders.

Please speak with one of our equity release advisors for your personalised illustration.

How does LiveMore compare to other equity release lenders?

LiveMore is one of the most popular equity release lenders. Benefits of their plans include:

  • Downsizing protection
  • Significant life event waiver, and
  • allowing sole applications from married applicants.

However, you may be able to achieve larger loans and lower interest rates from other equity release lenders. Furthermore, LiveMore does not offer medically underwritten lifetime mortgages.

When you are ready, you can book an appointment with one of our equity release advisors, who can show you how LiveMore compares to other lenders for your specific needs.

Borrowing more on an existing LiveMore equity release plan

If you have an existing equity release plan with LiveMore, we can help you assess the best way to borrow additional funds.

Currently LiveMore do not offer drawdown plans or further advances, but this is something that they are looking to bring to the market in the future.

Therefore, we can consider taking a new plan with LiveMore or taking a new plan with another equity release provider.

We will require your authority to discuss your existing plan with LiveMore. Please complete the form below so that we can send you a Letter of Authority to complete, sign, and return so that we may speak with LiveMore.

Letter of Authority

Complete the form below to create a Letter of Authority for you to sign so we can speak with LiveMore regarding your existing equity release plan.

Your Address

Address Line 1
Address Line 2
Address Line 3
Town
County
Postcode

First Borrower

First name
Middle name(s)
Surname
Date of Birth

Second Borrower (optional)

First name
Middle name(s)
Surname
Date of Birth

LiveMore Mortgage

Mortgage reference

Why don't I go to LiveMore directly?

Of course, you can go to LiveMore directly to request their lifetime mortgages. However, you still require financial advice before taking one of their plans, and they do not currently have any directly employed advisors. Instead, LiveMore will put you in touch with a financial advisor who will only advise you on LiveMore's equity release plans.

If you choose to work with an advisor who works with other lenders, you could access a more suitable lifetime mortgage from another provider.

But won't I get a better deal by going direct?

The interest rates charged and the amounts of money you can release will be the same whether you go direct or through another advice firm.

Why not book your free equity release consultation with one of our equity release advisors to explore your options?

In closing

I hope I have helped you understand LiveMore's equity release product offering and that you now know whether you could be a LiveMore equity release client. If you have further questions about LiveMore's equity release plans or would like to see if LiveMore is the plan I recommend for you, contact us at 0207 158 0881.

Remember, we also compare plans from other equity release lenders, so we can save you time shopping around and find the most suitable plans. You can also use our equity release calculator to compare the lowest-rate plans.

If you have further questions, why not speak with one of our qualified advisors?

Call us on 0207 158 0881 or use our online form to book your FREE consultation.

While a qualified equity release advisor has written this guide, it is not intended to be used as financial nor legal advice and should not be relied upon.

To understand the full features and risks of an Equity Release plan, ask for a personalised illustration.

Did this article answer your question?