Over-50s mortgage lender LiveMore Capital has secured a £275m funding line with NatWest Markets.

The funding will facilitate LiveMore’s portfolio growth and loan origination for interest-only mortgage products.

The lender says it is now in a position to reimagine later-life mortgages and “mobilise the wider financial services industry towards fairer, more holistic over-50s lending practices.”

LiveMore’s product offering includes a retirement interest-only (Rio) mortgages and it recently announced it’s term end interest-only mortgage, which offers longer fixed term rates. It lends up to 75% LTV as an alternative to equity release.

NatWest Markets head of speciality finance Jennifer Wallaert says: “NatWest is pleased to support LiveMore in the next stage of its growth with the launch of their term end interest only mortgage product. This transaction demonstrates NatWest’s expertise and capabilities in arranging a tailored secured senior funding warehouse as well as a hedging solution to a specialist lender offering a longer-term fixed rate mortgage product to support later life borrowers in the UK.”

LiveMore chief executive Leon Diamond says: “We are thrilled to be working with NatWest Markets to support our growth, so we can continue to serve the often forgotten over 50s market. Having the support from NatWest Markets means together we can help mobilise the industry around our mission to help the over 50s have genuine control of their financial lives. We have listened to the regulators and our customers, and with the support of this relationship, we can continue to provide options for later life borrowers underserved by high street lenders.”