LiveMore Capital is a later-life lending specialist, offering flexible Retirement Interest Only (RIO) mortgages. As a result of the tie-up members of the club will have access to LiveMore Capital’s range of deals.

It follows the lender being added to Air Mortgage Club’s panel this week.

Richard Merrett, head of strategic development for SimplyBiz Mortgages, noted that the number of interest-only mortgages held by older borrowers, as well as the rising number of people reliant on support from the Bank of Mum and Dad, suggests the RIO market is going to become increasingly important as an option.

He added:  “LiveMore has a proposition which challenges some of the criteria and income requirements of the existing product set, and we feel this partnership will add a valuable alternative option to finding good customer outcomes for our members active in the later life space.”

Alison Pallett, director of sales at LiveMore Capital, explained that the lender had been working hard to broaden its market reach, and the chance to work with SimplyBiz as it relaunched its later life lending offering provided a “fantastic platform”.

“Our high maximum LTV of 75% and our fresh look at affordability provides intermediaries with more choice in this fast-growing market to help a larger number of borrowers over the age of 55.”