Have you been struggling to get a decent loan because of your credit history? Well, good news! LiveMore, the lending giant for the over 50s, has just made it easier than ever to get a loan, even if you’ve had a few bumps in the road.
LiveMore has upped the maximum loan amount across their entire range of products – that means you can now borrow up to a whopping £1.25 million! This applies to their popular LiveMore 1, 2, 3 products and their brand-new ‘Up to 100% debt consolidation’ loan, perfect for those wanting to simplify their finances.
For those needing a loan even bigger than £1.25 million, LiveMore has got you covered. Simply reach out to your LiveMore business development manager and they’ll guide you through the process.
Second Chances – More Leniency on Credit History
LiveMore is also making it easier for those with a less-than-perfect credit history to get a loan. They’ve loosened their rules on what they consider “adverse credit” – meaning they’re more forgiving about those occasional bumps in the road. Here’s what’s changed:
- Missed payments: LiveMore now accepts up to four missed payments on unsecured loans (previously it was only three).
- County Court Judgements (CCJs): You can now have a higher value of satisfied CCJs and defaults (up to £2,500, previously £1,500).
- Debt Management Plans (DMPs): LiveMore will now consider applications even if you’ve been on a DMP, as long as you’ve been successfully managing your debts and it’s been over three years since you applied for the plan.
More Choice for Borrowers
These changes apply across all LiveMore’s loan types: standard capital and interest, standard interest-only and retirement interest-only (RIO). This means you have more options to choose a loan that suits your needs and circumstances.
Sam Ward, the brains behind these changes at LiveMore, said “We know that many older borrowers are struggling financially, even with the economy getting better. We want to offer them the support they need, and this is just the start of our plans.”