LiveMore markets first later life securitisation to investors   – Mortgage Strategy

LiveMore has begun marketing its first owner-occupied residential mortgage-backed securitisation to investors.  

The portfolio holds 1,226 prime and near-prime mortgages with a value of “approximately £208.1m,” says Moody’s Ratings its credit opinion.  

It contains a mixture of retirement interest-only mortgages without a specified maturity date, traditional interest-only home loans and annuity mortgages.  

The ratings agency points out: “None of the borrowers in the pool have been subject to any personal bankruptcy or individual voluntary arrangements.”  

But adds: “There is no historical information on the performance of RIO mortgages. Late life lending has exposure to potentially vulnerable customers that might increase the time to foreclosure.”  

LiveMore says: “LiveMore Mortgages has mandated the first securitisation of its mortgage loan book. The deal is currently being marketed to investors.”  

The business adds that the move is “a reflection of LiveMore’s rapid growth since its launch in 2020 offering a range of mortgages to people aged between 50 and 90 plus”.