LiveMore has launched a lifetime loan with a broad property criteria range.  

The over-50s lender says its Property Plus product considers a variety of bespoke features, such as homes with spray foam, being near to commercial property and pylons, non-standard construction, listed buildings and flood risk.   

The firm adds that if a broker decides equity release is the best option for their client but doesn’t have the relevant qualification, they can make a referral to its internal team for a referral fee.  

It points out that a loan will only be offered after a full affordability assessment has been carried out and only when serviced interest is not possible.  

Its broker portal ensures that capital repayment and interest options are explored before opting for equity release, the business adds. 

LiveMore founder and chief executive Leon Diamond says: “All older borrowers deserve a full affordability assessment to check whether serviced interest options are better for them.  

“As we are the only later life lender to offer all repayment types, Property Plus is the only consumer-duty compliant equity release product. This is because our technology considers interest only and repayment mortgages first.   

“We fully back the recent Financial Conduct Authority review, which found that equity release is often sold when a mortgage would have been more suitable. But if equity release is the right product, we’re proud to offer the broadest property criteria in the lifetime lending market.”