The specialist lender said it had extended the range in response to enquiries from intermediaries and would be offering a maximum loan-to-value of 75% as well a ‘flexible approach’ to income.

Alison Pallett, director of sales for LiveMore said, “These are exciting times for us – with the current stamp duty holiday, many older borrowers will be seeing this as an opportunity that they can benefit from and so the time is right to extend our offering to these customers and help them on their journey.

“We have listened closely to intermediaries’ needs and this enhancement is in direct response to what we are seeing in the market where our intermediary partners are reporting record levels of enquiries in the house buying space and we are in a fortunate position to be able to react quickly to their requests”.

LiveMore said, in addition to this new push into the home purchase market, it remained fully committed and focused on the remortgage market where many borrower were nearing the end of their existing lender’s mortgage term but did not have an adequate repayment plan.

It would also be supporting those who were enjoying income in their retirement who could demonstrate ongoing affordability and would therefore prefer to service interest as opposed to taking a compounding roll up product.

What’s more, it would also consider ‘mortgage prisoners’ who were trapped in a lender’s open or closed back book.

Pallett added: “At time when there is increased regulatory spotlight on equity release selling practices, RIO has a great place in any good intermediary’s armoury and now was the right time to extend our offering to include house purchase mortgages.”