Livemore has launched a limited edition cashback product, handing customers £1,000 upon completion.
Later lifetime lenders said the offer could be used to purchase and cash options, for retirement interest, standard capital and interest, only interest or part of the portion.
Its new cashback option is suitable for loans over £100,000, while existing fee-range products are loaned for £100,000 or less.
The standard fee for carrying Livemore is £995, which can be paid upfront or added to the loan, and the interest rate is the same as the current retirement interest and standard mortgage fee range product.
Depending on the current fee range, the new cashback product includes an auxiliary subscription attorney fee, available for a limited time, and applications will be submitted by 5.30 pm on October 31.
Lenders’ existing charge range, charging £500 for cashback products, up to 100% debt consolidation and lifetime release (equity release) range, the limited edition launch is not available.
“We are always looking for ways to provide greater value and flexibility to our clients and their brokers,” said Livemore CEO Leon Diamond.
“As many people move and revoke fees remain the brains of many, this cashback offer is designed to help mitigate upfront expenses while maintaining the competitive rate and product choices that Livemore is well-known.”
